Xponance Inc. Acquires 1,119 Shares of FedEx Co. (NYSE:FDX)

Xponance Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,390 shares of the shipping service provider’s stock after acquiring an additional 1,119 shares during the quarter. Xponance Inc.’s holdings in FedEx were worth $11,926,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. United Bank bought a new stake in FedEx during the 3rd quarter worth approximately $615,000. Empowered Funds LLC lifted its position in shares of FedEx by 85.4% in the 3rd quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock worth $2,448,000 after purchasing an additional 4,121 shares during the period. Quest Partners LLC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $123,000. Meeder Advisory Services Inc. lifted its position in shares of FedEx by 2.0% in the 3rd quarter. Meeder Advisory Services Inc. now owns 6,317 shares of the shipping service provider’s stock worth $1,729,000 after purchasing an additional 124 shares during the period. Finally, Aviance Capital Partners LLC lifted its position in shares of FedEx by 3.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 8,926 shares of the shipping service provider’s stock worth $2,443,000 after purchasing an additional 281 shares during the period. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FDX. JPMorgan Chase & Co. dropped their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. TD Cowen boosted their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $317.48.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

FDX opened at $245.58 on Wednesday. The firm has a market cap of $59.15 billion, a P/E ratio of 15.65, a PEG ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average of $261.87 and a 200 day moving average of $273.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The company 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.99 earnings per share. On average, research analysts expect 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. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.25%. FedEx’s payout ratio is currently 35.18%.

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.