FedEx Co. (NYSE:FDX) Shares Sold by Wharton Business Group LLC

Wharton Business Group LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,976 shares of the shipping service provider’s stock after selling 360 shares during the quarter. Wharton Business Group LLC’s holdings in FedEx were worth $5,057,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the period. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $253.97 on Monday. The company’s 50-day moving average is $270.75 and its two-hundred day moving average is $278.13. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. 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 firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm 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 earnings per share. Analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

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 given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Analysts Set New Price Targets

FDX has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. 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 note on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, Bank of America raised their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at $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.