Axxcess Wealth Management LLC Increases Stock Position in FedEx Co. (NYSE:FDX)

Axxcess Wealth Management LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,242 shares of the shipping service provider’s stock after acquiring an additional 176 shares during the quarter. Axxcess Wealth Management LLC’s holdings in FedEx were worth $6,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in 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 purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter valued at $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Up 1.3 %

FDX stock opened at $245.46 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84. The firm has a 50 day moving average of $262.47 and a 200 day moving average of $273.86. The stock has a market capitalization of $59.12 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its earnings results 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 firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.99 EPS. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Activity

In related news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on FDX shares. TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

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.