Carlton Hofferkamp & Jenks Wealth Management LLC Trims Stock Position in FedEx Co. (NYSE:FDX)


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Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,560 shares of the shipping service provider’s stock after selling 69 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in FedEx were worth $1,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. IHT Wealth Management LLC increased its stake in shares of FedEx by 1.8% during the 3rd quarter. IHT Wealth Management LLC now owns 2,324 shares of the shipping service provider’s stock valued at $584,000 after acquiring an additional 40 shares during the last quarter. Mcmillion Capital Management Inc. increased its position in FedEx by 0.5% in the 4th quarter. Mcmillion Capital Management Inc. now owns 8,819 shares of the shipping service provider’s stock worth $2,290,000 after buying an additional 43 shares during the period. FDx Advisors Inc. increased its position in shares of FedEx by 2.9% during the first quarter. FDx Advisors Inc. now owns 1,536 shares of the shipping service provider’s stock valued at $436,000 after purchasing an additional 44 shares during the period. Townsend & Associates Inc boosted its stake in FedEx by 0.5% in the 4th quarter. Townsend & Associates Inc now owns 10,104 shares of the shipping service provider’s stock valued at $2,623,000 after buying an additional 46 shares in the last quarter. Finally, Optimum Investment Advisors boosted its stake in FedEx by 1.3% in the fourth quarter. Optimum Investment Advisors now owns 3,606 shares of the shipping service provider’s stock worth $936,000 after purchasing an additional 46 shares in the last quarter. 72.74% of the stock is currently owned by institutional investors.

In other FedEx news, VP John L. Merino sold 10,000 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $273.30, for a total value of $2,733,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,000 shares of the company’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $256.89, for a total value of $770,670.00. Following the transaction, the director now directly owns 3,750 shares of the company’s stock, valued at $963,337.50. The disclosure for this sale can be found here. Insiders sold a total of 133,251 shares of company stock worth $38,573,231 in the last three months. 8.49% of the stock is currently owned by company insiders.

Shares of FDX stock traded down $4.77 during trading on Tuesday, reaching $299.78. The company’s stock had a trading volume of 54,319 shares, compared to its average volume of 2,452,970. FedEx Co. has a 1-year low of $103.40 and a 1-year high of $305.66. The stock’s 50-day moving average price is $281.13 and its 200 day moving average price is $270.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.76 and a quick ratio of 1.71. The company has a market capitalization of $79.54 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 1.22 and a beta of 1.30.

FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, March 17th. The shipping service provider reported $3.47 EPS for the quarter, topping the consensus estimate of $3.21 by $0.26. The business had revenue of $21.51 billion for the quarter, compared to analyst estimates of $19.90 billion. FedEx had a net margin of 3.28% and a return on equity of 18.65%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 17.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 8th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, March 5th. FedEx’s dividend payout ratio (DPR) is 27.37%.

A number of equities analysts have commented on the company. Robert W. Baird restated a “buy” rating on shares of FedEx in a research note on Sunday, February 21st. UBS Group reiterated a “buy” rating and set a $383.00 price target on shares of FedEx in a report on Friday, March 19th. The Goldman Sachs Group boosted their price objective on shares of FedEx from $356.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, March 25th. Berenberg Bank increased their price objective on shares of FedEx from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Monday. Finally, Vertical Research assumed coverage on FedEx in a research note on Thursday, April 1st. They set a “buy” rating and a $340.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $315.56.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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