Reliant Investment Management LLC Buys 73 Shares of FedEx Co. (NYSE:FDX)

Reliant Investment Management LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 912 shares of the shipping service provider’s stock after purchasing an additional 73 shares during the quarter. Reliant Investment Management LLC’s holdings in FedEx were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% during the 3rd 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 during the period. Peoples Financial Services CORP. acquired a new stake in FedEx during the 4th quarter worth approximately $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC acquired a new stake in FedEx during the 3rd quarter worth approximately $31,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FDX shares. JPMorgan Chase & Co. lifted their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets boosted their price target on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Citigroup boosted their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Stock Performance

NYSE FDX opened at $275.11 on Tuesday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a 50-day simple moving average of $283.48 and a 200 day simple moving average of $283.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $66.26 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.99 earnings per share. On average, research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

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.