Cannon Wealth Management Services LLC Sells 55 Shares of FedEx Co. (NYSE:FDX)

Cannon Wealth Management Services LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,144 shares of the shipping service provider’s stock after selling 55 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in FedEx were worth $322,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. IVC Wealth Advisors LLC boosted its position in FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 38 shares during the period. Citizens Financial Group Inc. RI boosted its position in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC boosted its position in FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares during the period. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Finally, Harbour Investments Inc. boosted its position in FedEx by 1.5% during the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after purchasing an additional 40 shares during the period. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FDX shares. UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Performance

NYSE:FDX opened at $253.97 on Monday. FedEx Co. has a twelve month low of $239.07 and a twelve month high of $313.84. The stock has a market cap of $61.17 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm’s fifty day simple moving average is $270.75 and its 200 day simple moving average is $278.13.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business posted $3.99 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost 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 $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

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.