Kestra Investment Management LLC Buys New Stake in FedEx Co. (NYSE:FDX)

Kestra Investment Management LLC purchased a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 306 shares of the shipping service provider’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atria Wealth Solutions Inc. grew its position in FedEx by 8.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,039 shares of the shipping service provider’s stock worth $3,681,000 after purchasing an additional 1,029 shares during the last quarter. Pinnbrook Capital Management LP acquired a new stake in FedEx in the 4th quarter worth $4,008,000. D.A. Davidson & CO. grew its position in FedEx by 25.2% in the 4th quarter. D.A. Davidson & CO. now owns 44,332 shares of the shipping service provider’s stock worth $12,472,000 after purchasing an additional 8,917 shares during the last quarter. Citizens & Northern Corp grew its position in FedEx by 19.0% in the 4th quarter. Citizens & Northern Corp now owns 4,579 shares of the shipping service provider’s stock worth $1,288,000 after purchasing an additional 732 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in FedEx by 4.3% in the 4th quarter. CIBC Asset Management Inc now owns 35,021 shares of the shipping service provider’s stock worth $9,852,000 after purchasing an additional 1,459 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Bank of America raised their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus reduced their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Trading Up 0.6 %

Shares of NYSE FDX opened at $268.49 on Friday. FedEx Co. has a 1-year low of $238.21 and a 1-year high of $313.84. The company has a market cap of $64.67 billion, a PE ratio of 17.11, a P/E/G ratio of 1.11 and a beta of 1.18. 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 company has a 50-day moving average of $271.34 and a two-hundred day moving average of $278.38.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping 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 company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the firm posted $3.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value 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. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

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.