Pettyjohn Wood & White Inc. Boosts Holdings in FedEx Co. (NYSE:FDX)

Pettyjohn Wood & White Inc. raised its holdings in shares of FedEx Co. (NYSE:FDX) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,856 shares of the shipping service provider’s stock after acquiring an additional 128 shares during the period. FedEx comprises about 1.2% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 24th biggest holding. Pettyjohn Wood & White Inc.’s holdings in FedEx were worth $6,711,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC increased its position in 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 buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the fourth quarter worth about $28,000. City Holding Co. purchased a new position in shares of FedEx during the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.0 %

Shares of NYSE FDX opened at $258.62 on Friday. The stock has a market capitalization of $62.29 billion, a P/E ratio of 16.48, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The business’s 50 day moving average is $269.04 and its two-hundred day moving average is $277.52. 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 firm 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 company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 EPS. As a group, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently declared 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 2.13%. FedEx’s dividend payout ratio is presently 35.18%.

Analyst Ratings Changes

Several brokerages have weighed in on FDX. Barclays lifted their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. TD Cowen raised their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein lowered 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

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.