FedEx Co. (NYSE:FDX) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in FedEx Co. (NYSE:FDX) by 11.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,836 shares of the shipping service provider’s stock after purchasing an additional 3,697 shares during the quarter. Wedge Capital Management L L P NC’s holdings in FedEx were worth $9,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its holdings in 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 acquiring an additional 52 shares during the period. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC lifted its stake in FedEx by 177.5% during the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

Shares of FDX opened at $275.11 on Friday. 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 firm has a market cap of $66.26 billion, a PE ratio of 17.53, a PEG ratio of 1.12 and a beta of 1.20. The firm’s 50 day moving average price is $283.48 and its 200 day moving average price is $284.04. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business 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%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 EPS. As a group, research analysts expect that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is 35.18%.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.61.

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.