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

Modern Wealth Management LLC raised its holdings in FedEx Co. (NYSE:FDX) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,139 shares of the shipping service provider’s stock after acquiring an additional 91 shares during the period. Modern Wealth Management LLC’s holdings in FedEx were worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the period. Geode Capital Management LLC grew its holdings in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the period. Franklin Resources Inc. increased its position in 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 purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in FedEx by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock valued at $422,202,000 after buying an additional 49,160 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDX shares. Citigroup dropped their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price for the company. Barclays dropped their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, BMO Capital Markets decreased their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock valued at $3,312,693 over the last quarter. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $244.26 on Friday. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $58.83 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.11 and a beta of 1.23. The stock has a 50 day moving average of $257.26 and a 200-day moving average of $271.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.86 EPS. As a group, analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.26%. FedEx’s dividend payout ratio (DPR) is 34.63%.

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.