750 Shares in FedEx Co. (NYSE:FDX) Purchased by Hardin Capital Partners LLC

Hardin Capital Partners LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 750 shares of the shipping service provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FDX. Fortitude Family Office LLC grew its position in 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. acquired a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth $28,000. Kentucky Trust Co acquired a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $241.19 on Wednesday. The company’s fifty day simple moving average is $258.58 and its 200 day simple moving average is $271.75. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $58.09 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its 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). 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%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.86 EPS. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx’s dividend payout ratio is presently 34.63%.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James decreased their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. UBS Group lowered their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Citigroup decreased their price target on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.60.

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.