Kingsview Wealth Management LLC Grows Holdings in FedEx Co. (NYSE:FDX)

Kingsview Wealth Management LLC grew its holdings in FedEx Co. (NYSE:FDX) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,261 shares of the shipping service provider’s stock after purchasing an additional 247 shares during the period. Kingsview Wealth Management LLC’s holdings in FedEx were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC increased its stake in FedEx by 144.4% in the fourth 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 during the period. Evermay Wealth Management LLC grew 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 worth $26,000 after buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.2 %

FedEx stock opened at $261.30 on Wednesday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $62.93 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. 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 stock has a 50-day moving average of $273.81 and a two-hundred day moving average of $279.95.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping 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 return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $3.99 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FDX. Raymond James increased their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

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.