Nicolet Bankshares Inc. Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Nicolet Bankshares Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 49.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,808 shares of the shipping service provider’s stock after purchasing an additional 925 shares during the quarter. Nicolet Bankshares Inc.’s holdings in FedEx were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $28,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the fourth quarter worth $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE FDX opened at $207.46 on Friday. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. 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 firm has a 50-day moving average of $244.07 and a two-hundred day moving average of $265.74. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 earnings per share. As a group, analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FDX shares. BMO Capital Markets reduced their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. TD Cowen cut their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $300.63.

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.