Indiana Trust & Investment Management Co Sells 65 Shares of FedEx Co. (NYSE:FDX)

Indiana Trust & Investment Management Co lessened its holdings in FedEx Co. (NYSE:FDX) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 796 shares of the shipping service provider’s stock after selling 65 shares during the period. Indiana Trust & Investment Management Co’s holdings in FedEx were worth $224,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FDX. Fortitude Family Office LLC raised its stake in shares of 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 last quarter. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx in the 4th quarter valued at $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management purchased a new position in FedEx during the 4th quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.2 %

Shares of FedEx stock opened at $261.30 on Wednesday. The company’s 50-day moving average price is $273.81 and its 200-day moving average price is $279.95. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $62.93 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.07 and a beta of 1.18. FedEx Co. has a 12-month low of $234.45 and a 12-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, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the firm posted $3.99 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets boosted their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, UBS Group raised their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Transactions at FedEx

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