Pinnacle Financial Partners Inc Has $2.24 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Pinnacle Financial Partners Inc increased its position in FedEx Co. (NYSE:FDX) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,120 shares of the shipping service provider’s stock after purchasing an additional 149 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in FedEx were worth $2,243,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FDX. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC grew its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 5.4 %

NYSE:FDX opened at $253.97 on Friday. 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 stock has a market capitalization of $61.17 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The firm’s 50 day moving average is $270.75 and its 200 day moving average is $278.13. FedEx Co. has a 12 month low of $239.07 and a 12 month high of $313.84.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

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

Analyst Ratings Changes

FDX has been the subject of several research reports. Stephens reduced their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. BMO Capital Markets raised their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.87.

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.