Live Oak Investment Partners Decreases Stock Position in FedEx Co. (NYSE:FDX)

Live Oak Investment Partners decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 84.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,107 shares of the shipping service provider’s stock after selling 6,240 shares during the period. Live Oak Investment Partners’ holdings in FedEx were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FDX. Citizens Financial Group Inc. RI grew its position in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares during the last quarter. Harbour Investments Inc. increased its position in shares of FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after acquiring an additional 40 shares during the period. Cetera Trust Company N.A increased its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares during the period. Finally, Griffin Asset Management Inc. raised its stake in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated 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 acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ? 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDX. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bank of America upped their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $319.74.

FedEx Stock Performance

NYSE:FDX opened at $247.45 on Wednesday. FedEx Co. has a fifty-two week low of $242.92 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 company has a fifty day moving average of $268.09 and a two-hundred day moving average of $276.88. The stock has a market capitalization of $59.60 billion, a PE ratio of 15.77, a P/E/G 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. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 EPS. As a group, research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.23%. FedEx’s payout ratio is currently 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.