Institute for Wealth Management LLC. Grows Stock Position in FedEx Co. (NYSE:FDX)

Institute for Wealth Management LLC. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 11,069 shares of the shipping service provider’s stock after acquiring an additional 96 shares during the period. Institute for Wealth Management LLC.’s holdings in FedEx were worth $3,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Franklin Resources Inc. boosted its holdings in FedEx by 8.6% in 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 period. KBC Group NV increased its stake in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. Finally, Empirical Asset Management LLC bought a new position in FedEx in the fourth quarter worth about $49,445,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FDX shares. Bank of America increased their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Barclays increased their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.43.

FedEx Stock Down 2.1 %

NYSE FDX opened at $269.39 on Friday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The stock has a fifty day moving average of $280.84 and a 200-day moving average of $282.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $64.88 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping 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 company’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.99 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced 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 2.05%. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

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.