115 Shares in FedEx Co. (NYSE:FDX) Bought by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, HoldingsChannel reports. The firm purchased 115 shares of the shipping service provider’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. increased its stake in shares of FedEx by 0.9% in the 4th quarter. Institute for Wealth Management LLC. now owns 11,069 shares of the shipping service provider’s stock valued at $3,114,000 after purchasing an additional 96 shares in the last quarter. Crews Bank & Trust acquired a new stake in FedEx in the fourth quarter valued at approximately $162,000. OLD National Bancorp IN increased its position in shares of FedEx by 2.0% in the fourth quarter. OLD National Bancorp IN now owns 4,007 shares of the shipping service provider’s stock valued at $1,127,000 after buying an additional 77 shares in the last quarter. Sentry LLC raised its stake in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after buying an additional 5,404 shares during the period. Finally, Busey Bank lifted its position in shares of FedEx by 0.9% during the 4th quarter. Busey Bank now owns 21,044 shares of the shipping service provider’s stock valued at $5,920,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Citigroup increased their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price target on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated 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 transaction, the director now owns 8,904 shares of the company’s stock, 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 is accessible through this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % 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 corporate insiders.

FedEx Trading Down 1.6 %

Shares of FedEx stock opened at $264.96 on Friday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. 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 firm has a market capitalization of $63.82 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.14 and a beta of 1.20. The stock has a 50 day moving average of $280.32 and a 200 day moving average of $282.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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. 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 last year, the company earned $3.99 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.08%. FedEx’s dividend payout ratio is currently 35.18%.

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.