IVC Wealth Advisors LLC Cuts Stock Position in FedEx Co. (NYSE:FDX)

IVC Wealth Advisors LLC decreased its position in FedEx Co. (NYSE:FDX) by 26.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,432 shares of the shipping service provider’s stock after selling 516 shares during the quarter. IVC Wealth Advisors LLC’s holdings in FedEx were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Virtu Financial LLC purchased a new position in FedEx in the 3rd quarter worth $3,405,000. Czech National Bank boosted its holdings in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares during the period. Wedmont Private Capital grew its position in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the last quarter. Persium Advisors LLC purchased a new position in FedEx in the 4th quarter worth approximately $530,000. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $9,226,000. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Amy B. Lane bought 333 shares of the stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.3 %

Shares of FedEx stock opened at $269.75 on Friday. The company has a 50-day simple moving average of $282.52 and a two-hundred day simple moving average of $283.52. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. 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 stock has a market capitalization of $64.97 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last released its quarterly earnings data 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. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.99 EPS. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

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 $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FDX shares. UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. TD Cowen upped their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Raymond James upped their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Company 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.