FedEx Co. (NYSE:FDX) Shares Sold by Essex Savings Bank

by · The Cerbat Gem

Essex Savings Bank lessened its holdings in shares of FedEx Co. (NYSE:FDX – Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,278 shares of the shipping service provider’s stock after selling 186 shares during the period. Essex Savings Bank’s holdings in FedEx were worth $360,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. increased its holdings in shares of FedEx by 6.8% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 2,700 shares of the shipping service provider’s stock valued at $759,000 after purchasing an additional 172 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in FedEx by 14.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 771 shares of the shipping service provider’s stock valued at $217,000 after buying an additional 98 shares in the last quarter. Founders Grove Wealth Partners LLC acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $235,000. Richard P Slaughter Associates Inc boosted its stake in shares of FedEx by 0.5% during the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after acquiring an additional 42 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of FedEx by 17.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 535 shares of the shipping service provider’s stock worth $151,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Raymond James raised their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Robert W. Baird lowered their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, BMO Capital Markets lifted their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $325.61.

Check Out Our Latest Report on FedEx

FedEx Stock Up 0.2 %

NYSE FDX opened at $277.23 on Friday. The stock has a market cap of $66.77 billion, a PE ratio of 17.67, a P/E/G ratio of 1.12 and a beta of 1.20. The business has a 50 day moving average price of $283.82 and a two-hundred day moving average price of $284.25. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week 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.

FedEx (NYSE:FDX – Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the business earned $3.99 EPS. The business’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

About FedEx

(Free Report)

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.

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