Asio Capital LLC Sells 357 Shares of FedEx Co. (NYSE:FDX)

Asio Capital LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,619 shares of the shipping service provider’s stock after selling 357 shares during the quarter. FedEx comprises approximately 1.2% of Asio Capital LLC’s holdings, making the stock its 22nd largest holding. Asio Capital LLC’s holdings in FedEx were worth $6,394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. IVC Wealth Advisors LLC grew its stake in shares of FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after buying an additional 38 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC lifted its position in shares of FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC lifted its holdings in FedEx by 1.0% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after buying an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings 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 purchasing an additional 40 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective 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 raised their target price 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. Stephens reduced their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

NYSE:FDX opened at $273.12 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market capitalization of $65.78 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $281.64 and a two-hundred day moving average price of $283.27.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during 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 quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 EPS. As a group, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

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.