FedEx Co. (NYSE:FDX) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its position in FedEx Co. (NYSE:FDX) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,261 shares of the shipping service provider’s stock after acquiring an additional 247 shares during the period. Kingsview Wealth Management LLC’s holdings in FedEx were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDX. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth $31,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

FDX stock opened at $261.30 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $62.93 billion, a PE ratio of 16.65, a P/E/G ratio of 1.07 and a beta of 1.18. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The business’s fifty day moving average price is $273.81 and its 200 day moving average price is $279.95.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the firm posted $3.99 EPS. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.11%. FedEx’s payout ratio is 35.18%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FDX shares. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $321.87.

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.