Sequoia Financial Advisors LLC Boosts Stock Holdings in FedEx Co. (NYSE:FDX)

Sequoia Financial Advisors LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 5.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,731 shares of the shipping service provider’s stock after purchasing an additional 478 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $2,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx during the fourth quarter valued at about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 0.5 %

FedEx stock opened at $242.27 on Friday. 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 Co. has a one year low of $239.50 and a one year high of $313.84. The stock has a market capitalization of $58.35 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business’s fifty day moving average is $263.04 and its 200 day moving average is $274.51.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The company 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%. FedEx’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

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

Wall Street Analyst Weigh In

FDX has been the subject of several recent analyst reports. Bank of America boosted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets increased their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note 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. Finally, Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $318.04.

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.