Wesbanco Bank Inc. Sells 233 Shares of FedEx Co. (NYSE:FDX)

Wesbanco Bank Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,662 shares of the shipping service provider’s stock after selling 233 shares during the period. Wesbanco Bank Inc.’s holdings in FedEx were worth $5,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $288.00 to $365.00 in a research note on Friday, December 20th. Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, TD Cowen boosted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $325.61.

FedEx Trading Down 1.8 %

Shares of FedEx stock opened at $270.52 on Thursday. The company has a market capitalization of $65.16 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20. 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 stock has a fifty day simple moving average of $282.95 and a 200 day simple moving average of $283.61. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

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, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.04%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated 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 in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

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.