DMKC Advisory Services LLC Purchases New Position in FedEx Co. (NYSE:FDX)

DMKC Advisory Services LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,165 shares of the shipping service provider’s stock, valued at approximately $2,016,000. FedEx comprises approximately 1.8% of DMKC Advisory Services LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds have also recently modified their holdings of FDX. Fortitude Family Office LLC grew 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 during the period. Evermay Wealth Management LLC grew its stake 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 period. Peoples Financial Services CORP. acquired a new position in FedEx in the fourth quarter valued at $28,000. City Holding Co. acquired a new position in shares of FedEx during the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new position in FedEx during the fourth quarter worth approximately $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on FDX shares. UBS Group raised their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. TD Cowen raised their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Up 1.1 %

Shares of NYSE FDX opened at $256.31 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $61.73 billion, a PE ratio of 16.34, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a one year low of $239.07 and a one year high of $313.84. The business’s fifty day moving average price is $269.72 and its 200-day moving average price is $277.80.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Activity

In other news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $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.

FedEx Company 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.