Hanson & Doremus Investment Management Decreases Stake in FedEx Co. (NYSE:FDX)

Hanson & Doremus Investment Management lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,830 shares of the shipping service provider’s stock after selling 187 shares during the period. Hanson & Doremus Investment Management’s holdings in FedEx were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC grew its holdings 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 valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC boosted its holdings 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 purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 1.2 %

Shares of NYSE FDX opened at $275.34 on Thursday. The business has a 50-day moving average of $281.09 and a two-hundred day moving average of $282.86. The company has a market capitalization of $66.32 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 1 year low of $234.45 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.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the company posted $3.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and boosted their price target for the company from $288.00 to $365.00 in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $325.43.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by 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.