FedEx Co. (NYSE:FDX) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,835 shares of the shipping service provider’s stock after buying an additional 166 shares during the period. Avantax Advisory Services Inc.’s holdings in FedEx were worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

FDX has been the topic of a number of research reports. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Bank of America increased their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and cut their price objective for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Finally, TD Cowen increased their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.04.

FedEx Stock Performance

NYSE FDX opened at $242.27 on Friday. The company has a market cap 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 stock’s 50 day simple moving average is $263.04 and its 200-day simple moving average is $274.51. FedEx Co. has a 1-year low of $239.50 and a 1-year high of $313.84. 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 (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $3.99 earnings per share. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 2.28%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction 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 completion of the purchase, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’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 transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.