FedEx Co. (NYSE:FDX) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its holdings in shares of FedEx Co. (NYSE:FDXFree Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,775 shares of the shipping service provider’s stock after selling 1,098 shares during the quarter. Corient Private Wealth LLC’s holdings in FedEx were worth $31,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Glass Jacobson Investment Advisors llc purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $27,000. Baystate Wealth Management LLC boosted its stake in shares of FedEx by 60.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of FedEx during the 1st quarter valued at approximately $35,000. RVW Wealth LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $40,000. Finally, Venturi Wealth Management LLC lifted its stake in FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE:FDX traded down $1.56 during mid-day trading on Friday, reaching $251.57. 1,754,411 shares of the stock were exchanged, compared to its average volume of 2,164,190. The business has a fifty day moving average price of $256.47 and a 200 day moving average price of $256.08. The firm has a market capitalization of $62.86 billion, a PE ratio of 15.00, a PEG ratio of 1.17 and a beta of 1.21. FedEx Co. has a 1-year low of $183.59 and a 1-year high of $285.53. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75.

FedEx (NYSE:FDXGet Free Report) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). FedEx had a return on equity of 16.47% and a net margin of 4.87%. The firm had revenue of $22.17 billion for the quarter, compared to analyst estimates of $22.36 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. FedEx’s revenue was down 2.8% on a year-over-year basis. Research analysts expect that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were given a $1.26 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.00%. FedEx’s dividend payout ratio (DPR) is 29.86%.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was purchased at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Amy B. Lane purchased 200 shares of FedEx stock in a transaction dated Tuesday, December 26th. The stock was acquired at an average cost of $253.22 per share, for a total transaction of $50,644.00. Following the acquisition, the director now directly owns 3,304 shares in the company, valued at $836,638.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was bought at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the purchase, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens reduced their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 20th. JPMorgan Chase & Co. reduced their price objective on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 20th. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Monday, January 8th. Susquehanna upgraded FedEx from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $225.00 to $315.00 in a research note on Monday, October 2nd. Finally, Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $289.93.

Get Our Latest Stock Analysis on FedEx

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.

Further Reading

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.