Pettyjohn Wood & White Inc. Grows Stock Position in FedEx Co. (NYSE:FDX)

Pettyjohn Wood & White Inc. boosted its stake in shares of FedEx Co. (NYSE:FDX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,856 shares of the shipping service provider’s stock after acquiring an additional 128 shares during the quarter. FedEx accounts for about 1.2% of Pettyjohn Wood & White Inc.’s investment portfolio, making the stock its 24th largest holding. Pettyjohn Wood & White Inc.’s holdings in FedEx were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the third quarter worth $31,000. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of FedEx by 7.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,320 shares of the shipping service provider’s stock valued at $2,277,000 after acquiring an additional 574 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of FedEx by 2,102.2% during the third quarter. JFS Wealth Advisors LLC now owns 2,048 shares of the shipping service provider’s stock valued at $560,000 after acquiring an additional 1,955 shares during the last quarter. Finally, Solidarity Wealth LLC boosted its holdings in shares of FedEx by 56.6% during the third quarter. Solidarity Wealth LLC now owns 21,123 shares of the shipping service provider’s stock worth $5,800,000 after purchasing an additional 7,632 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on FDX. Bank of America upped their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $365.00 to $283.00 in a report on Monday, February 3rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Up 1.0 %

Shares of FedEx stock opened at $258.62 on Friday. The company has a 50-day simple moving average of $269.04 and a two-hundred day simple moving average of $277.52. The stock has a market capitalization of $62.29 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.99 EPS. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were 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 directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

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.