WT Wealth Management Grows Stock Holdings in FedEx Co. (NYSE:FDX)

WT Wealth Management boosted its holdings in FedEx Co. (NYSE:FDX) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,714 shares of the shipping service provider’s stock after acquiring an additional 403 shares during the quarter. WT Wealth Management’s holdings in FedEx were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FDX. Bryn Mawr Capital Management LLC boosted its holdings in FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the period. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. KBC Group NV lifted its holdings in shares of FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after acquiring an additional 226,608 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in shares of FedEx during the 4th quarter worth $49,445,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus decreased their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Transactions at FedEx

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

FedEx Trading Down 0.2 %

NYSE:FDX opened at $256.09 on Thursday. FedEx Co. has a one year low of $239.07 and a one 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. The company’s 50-day simple moving average is $269.38 and its 200 day simple moving average is $277.65. The firm has a market capitalization of $61.68 billion, a P/E ratio of 16.32, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the firm posted $3.99 earnings per share. FedEx’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.16%. FedEx’s dividend payout ratio is presently 35.18%.

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.