Lineweaver Wealth Advisors LLC Has $2.29 Million Position in FedEx Co. (NYSE:FDX)

Lineweaver Wealth Advisors LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 28.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,101 shares of the shipping service provider’s stock after purchasing an additional 1,782 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in FedEx were worth $2,286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC grew its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. bought a new position in shares of FedEx during the fourth quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Loop Capital cut FedEx from a “buy” rating to a “hold” rating and lowered their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Trading Down 0.2 %

NYSE FDX opened at $256.09 on Thursday. FedEx Co. has a one year low of $239.07 and a one 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 firm has a market cap of $61.68 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.11 and a beta of 1.18. The stock’s 50-day moving average is $269.38 and its 200-day moving average is $277.65.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $3.99 EPS. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal 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 $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 35.18%.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Profile

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.