Ibex Wealth Advisors Buys New Shares in FedEx Co. (NYSE:FDX)

Ibex Wealth Advisors purchased a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 849 shares of the shipping service provider’s stock, valued at approximately $239,000.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $275.34 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $66.32 billion, a PE ratio of 17.55, a P/E/G ratio of 1.12 and a beta of 1.20. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The business’s 50-day moving average price is $281.09 and its two-hundred day moving average price is $282.86.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the previous year, the firm posted $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have issued reports on FDX shares. 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. Stifel Nicolaus reduced their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company upped their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

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.