1,200 Shares in FedEx Co. (NYSE:FDX) Bought by Summit Securities Group LLC

Summit Securities Group LLC acquired a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel reports. The firm acquired 1,200 shares of the shipping service provider’s stock, valued at approximately $338,000.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in 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 acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the fourth quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter worth about $28,000. Finally, Activest Wealth Management bought a new position in FedEx during the fourth quarter valued at approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 in the last three months. 8.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FDX shares. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Finally, TD Cowen lowered their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Stock Down 0.9 %

FDX stock opened at $241.75 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The stock has a market capitalization of $57.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50 day moving average of $256.59 and a 200 day moving average of $270.98.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $3.86 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share 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 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 2.28%. FedEx’s payout ratio is 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.