Sagespring Wealth Partners LLC Takes $606,000 Position in FedEx Co. (NYSE:FDX)

Sagespring Wealth Partners LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,156 shares of the shipping service provider’s stock, valued at approximately $606,000.

Several other institutional investors have also added to or reduced their stakes in FDX. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% during the fourth 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 in the last quarter. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new stake in FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co bought a new stake in FedEx in the 4th quarter valued at about $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is owned by insiders.

FedEx Stock Up 1.2 %

Shares of NYSE FDX opened at $210.31 on Tuesday. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market cap of $50.39 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a 50 day simple moving average of $243.22 and a 200 day simple moving average of $265.34.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.62%. FedEx’s dividend payout ratio (DPR) is 34.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. BMO Capital Markets cut their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Finally, Stephens decreased their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.63.

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.