Financial Counselors Inc. Raises Position in FedEx Co. (NYSE:FDX)

Financial Counselors Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 1.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,872 shares of the shipping service provider’s stock after buying an additional 71 shares during the period. Financial Counselors Inc.’s holdings in FedEx were worth $1,089,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $244.26 on Friday. The company has a market cap of $58.83 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a 50-day moving average of $257.26 and a two-hundred day moving average of $271.36.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.26%. FedEx’s payout ratio is 34.63%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Barclays cut their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last quarter. 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.