Ibex Wealth Advisors Purchases Shares of 849 FedEx Co. (NYSE:FDX)

Ibex Wealth Advisors purchased a new stake in FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 849 shares of the shipping service provider’s stock, valued at approximately $239,000.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings 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 worth $25,000 after acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the fourth quarter worth $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at $28,000. Finally, Highline Wealth Partners LLC bought a new position in shares of FedEx in the third quarter valued at about $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $275.34 on Thursday. The stock has a market cap of $66.32 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.12 and a beta of 1.20. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. 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 fifty day simple moving average of $281.09 and a 200 day simple moving average of $282.86.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the firm posted $3.99 earnings per share. FedEx’s revenue was down .7% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is 35.18%.

Analyst Ratings Changes

A number of equities research analysts have commented on FDX shares. Raymond James increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Barclays increased their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.43.

Insider Buying and Selling

In other news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently 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.