Farther Finance Advisors LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Farther Finance Advisors LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,742 shares of the shipping service provider’s stock after acquiring an additional 73 shares during the period. Farther Finance Advisors LLC’s holdings in FedEx were worth $490,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FDX. United Bank purchased a new stake in FedEx in the third quarter valued at approximately $615,000. CIBC Asset Management Inc boosted its position in FedEx by 7.8% in the third quarter. CIBC Asset Management Inc now owns 33,562 shares of the shipping service provider’s stock valued at $9,185,000 after buying an additional 2,430 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its position in FedEx by 18.3% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,956 shares of the shipping service provider’s stock valued at $535,000 after buying an additional 302 shares during the last quarter. Empowered Funds LLC boosted its position in FedEx by 85.4% in the third quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock valued at $2,448,000 after buying an additional 4,121 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its position in FedEx by 102.7% in the third quarter. Mizuho Securities USA LLC now owns 35,377 shares of the shipping service provider’s stock valued at $9,682,000 after buying an additional 17,924 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. Wells Fargo & Company decreased their price target on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Bank of America boosted 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. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

FedEx Stock Up 0.5 %

NYSE FDX opened at $242.27 on Monday. The business has a fifty day moving average price of $263.04 and a 200 day moving average price of $274.21. FedEx Co. has a one year low of $239.50 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $58.35 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the company earned $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company 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.