Corient Private Wealth LLC Acquires 404 Shares of FedEx Co. (NYSE:FDX)

Corient Private Wealth LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 120,500 shares of the shipping service provider’s stock after purchasing an additional 404 shares during the period. Corient Private Wealth LLC owned 0.05% of FedEx worth $33,902,000 at the end of the most recent reporting period.

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

FedEx Trading Up 1.3 %

NYSE FDX opened at $245.46 on Tuesday. FedEx Co. has a 52 week low of $239.50 and a 52 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 stock’s 50 day moving average price is $262.47 and its two-hundred day moving average price is $273.86. The stock has a market capitalization of $59.12 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates 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. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $318.04.

Insider Activity at FedEx

In other news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value 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 position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

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.