Marcum Wealth LLC raised its stake in FedEx Co. (NYSE:FDX – Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,179 shares of the shipping service provider’s stock after buying an additional 84 shares during the quarter. Marcum Wealth LLC’s holdings in FedEx were worth $332,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Citizens Financial Group Inc. RI increased its holdings in FedEx by 74.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,270 shares of the shipping service provider’s stock worth $381,000 after purchasing an additional 542 shares in the last quarter. Lmcg Investments LLC grew its holdings in shares of FedEx by 1.7% during the second quarter. Lmcg Investments LLC now owns 61,773 shares of the shipping service provider’s stock worth $18,522,000 after buying an additional 1,053 shares in the last quarter. Moors & Cabot Inc. raised its position in FedEx by 16.8% in the 2nd quarter. Moors & Cabot Inc. now owns 2,575 shares of the shipping service provider’s stock valued at $772,000 after buying an additional 371 shares during the last quarter. Alpha Financial Partners LLC raised its position in FedEx by 8.3% in the 2nd quarter. Alpha Financial Partners LLC now owns 831 shares of the shipping service provider’s stock valued at $249,000 after buying an additional 64 shares during the last quarter. Finally, Capstone Wealth Management Group LLC bought a new stake in FedEx in the 2nd quarter valued at approximately $307,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
FedEx Price Performance
FedEx stock opened at $277.63 on Wednesday. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.18 and a beta of 1.20. The stock’s 50 day moving average is $283.89 and its 200-day moving average is $284.31. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.
FedEx Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.
Wall Street Analysts Forecast Growth
FDX has been the topic of a number of recent research reports. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Raymond James lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Barclays increased their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $325.61.
Check Out Our Latest Report on FDX
Insiders Place Their Bets
In related news, EVP John W. Dietrich bought 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, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.
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.
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