Huntington National Bank Has $4.97 Million Stock Position in FedEx Co. (NYSE:FDX)

Huntington National Bank increased its position in FedEx Co. (NYSE:FDX) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,669 shares of the shipping service provider’s stock after buying an additional 4,179 shares during the period. Huntington National Bank’s holdings in FedEx were worth $4,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings 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 valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx in the 4th quarter valued at $28,000. City Holding Co. acquired a new stake in FedEx in the 4th quarter valued at $28,000. Kentucky Trust Co bought a new stake in FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth $29,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. Cfra Research raised shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Stifel Nicolaus decreased their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. UBS Group dropped their target price on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Activity

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

NYSE FDX opened at $245.45 on Thursday. 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 company has a market cap of $58.81 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The firm’s 50-day simple moving average is $254.79 and its two-hundred day simple moving average is $270.10.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.