Heritage Wealth Advisors Sells 200 Shares of FedEx Co. (NYSE:FDX)

Heritage Wealth Advisors lowered its stake in shares of FedEx Co. (NYSE:FDX) by 52.6% during the fourth quarter, HoldingsChannel reports. The fund owned 180 shares of the shipping service provider’s stock after selling 200 shares during the quarter. Heritage Wealth Advisors’ holdings in FedEx were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the fourth 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 during the last quarter. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter valued at about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Activest Wealth Management acquired a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on FDX. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their target price for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Raymond James lowered their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. TD Cowen cut their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the company from $300.00 to $275.00 in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $300.60.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the business’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 owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Price Performance

FedEx stock opened at $243.78 on Thursday. The stock has a market cap of $58.72 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12-month low of $217.22 and a 12-month 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 business’s 50-day simple moving average is $257.92 and its 200 day simple moving average is $271.55.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm earned $3.86 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business 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 is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.26%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.