Family Legacy Inc. Increases Stake in FedEx Co. (NYSE:FDX)

Family Legacy Inc. lifted its holdings in FedEx Co. (NYSE:FDX) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,137 shares of the shipping service provider’s stock after acquiring an additional 321 shares during the quarter. Family Legacy Inc.’s holdings in FedEx were worth $588,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cetera Trust Company N.A boosted its stake in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after acquiring an additional 40 shares in the last quarter. Griffin Asset Management Inc. raised its stake in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. Aviso Financial Inc. lifted its position in shares of FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after buying an additional 40 shares in the last quarter. Richard P Slaughter Associates Inc grew its stake in FedEx by 0.5% in the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after acquiring an additional 42 shares during the period. Finally, WealthPlan Investment Management LLC increased its holdings in FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after acquiring an additional 42 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Down 0.9 %

Shares of FedEx stock opened at $241.75 on Monday. The company has a market capitalization of $57.92 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1-year low of $217.22 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. The business has a 50-day moving average of $256.59 and a 200-day moving average of $270.89.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx’s payout ratio is currently 34.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FDX. UBS Group reduced their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BMO Capital Markets decreased their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Citigroup lowered their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and decreased their target price for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.71.

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.