Moran Wealth Management LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Moran Wealth Management LLC lowered its position in FedEx Co. (NYSE:FDX) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,717 shares of the shipping service provider’s stock after selling 355 shares during the quarter. Moran Wealth Management LLC’s holdings in FedEx were worth $15,393,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FDX. Principal Financial Group Inc. grew its stake in shares of FedEx by 4.1% during the third quarter. Principal Financial Group Inc. now owns 256,870 shares of the shipping service provider’s stock valued at $70,300,000 after buying an additional 10,063 shares during the last quarter. Leavell Investment Management Inc. grew its position in FedEx by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 4,298 shares of the shipping service provider’s stock valued at $1,182,000 after acquiring an additional 158 shares during the last quarter. Equitable Trust Co. grew its position in FedEx by 13.1% in the 3rd quarter. Equitable Trust Co. now owns 7,706 shares of the shipping service provider’s stock valued at $2,109,000 after acquiring an additional 891 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of FedEx during the third quarter worth $1,180,000. Finally, United Bank purchased a new stake in shares of FedEx during the third quarter valued at $615,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FDX shares. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets lifted their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Bank of America upped their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Stock Performance

Shares of FedEx stock opened at $253.80 on Monday. The firm has a market capitalization of $61.13 billion, a P/E ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $242.92 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $266.55 and a 200 day moving average price of $276.07.

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 during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the firm posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

FedEx 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.