Main Street Financial Solutions LLC Has $420,000 Holdings in FedEx Co. (NYSE:FDX)

Main Street Financial Solutions LLC grew its position in FedEx Co. (NYSE:FDX) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,494 shares of the shipping service provider’s stock after purchasing an additional 89 shares during the period. Main Street Financial Solutions LLC’s holdings in FedEx were worth $420,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Regal Investment Advisors LLC lifted its position in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. boosted its position in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. Aviso Financial Inc. boosted its position in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the period. Finally, Garner Asset Management Corp grew its holdings in shares of FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after buying an additional 41 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 1.9 %

FedEx stock opened at $207.45 on Friday. FedEx Co. has a 52 week low of $194.30 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 firm has a market capitalization of $49.71 billion, a PE ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The business’s 50-day simple moving average is $240.13 and its 200-day simple moving average is $264.06.

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 the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the firm earned $3.86 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and decreased their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

Insiders Place Their Bets

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 stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.