Mitchell Mcleod Pugh & Williams Inc. Reduces Position in FedEx Co. (NYSE:FDX)

Mitchell Mcleod Pugh & Williams Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,412 shares of the shipping service provider’s stock after selling 180 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in FedEx were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Virtu Financial LLC bought a new stake in FedEx during the 3rd quarter valued at $3,405,000. Czech National Bank grew its holdings in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Wedmont Private Capital grew its stake in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares in the last quarter. Persium Advisors LLC bought a new stake in FedEx during the 4th quarter worth approximately $530,000. Finally, Magnolia Capital Advisors LLC bought a new position in FedEx in the 2nd quarter valued at $9,226,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen increased their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and upped their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their price target on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $325.61.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

FDX opened at $275.11 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $66.26 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The stock has a fifty day simple moving average of $283.48 and a two-hundred day simple moving average of $283.94. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $3.99 EPS. Research analysts predict that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.