Axxcess Wealth Management LLC Boosts Position in FedEx Co. (NYSE:FDX)

Axxcess Wealth Management LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,242 shares of the shipping service provider’s stock after purchasing an additional 176 shares during the quarter. Axxcess Wealth Management LLC’s holdings in FedEx were worth $6,539,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. United Bank acquired a new position in FedEx in the third quarter valued at $615,000. Empowered Funds LLC increased its stake in FedEx by 85.4% in the third quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock valued at $2,448,000 after purchasing an additional 4,121 shares during the last quarter. Natixis Advisors LLC increased its stake in FedEx by 4.8% in the third quarter. Natixis Advisors LLC now owns 157,002 shares of the shipping service provider’s stock valued at $42,968,000 after purchasing an additional 7,238 shares during the last quarter. Quest Partners LLC acquired a new position in FedEx in the third quarter valued at $123,000. Finally, Mendel Capital Management LLC increased its stake in FedEx by 2.1% in the third quarter. Mendel Capital Management LLC now owns 5,249 shares of the shipping service provider’s stock valued at $1,436,000 after purchasing an additional 108 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FDX. BMO Capital Markets upped their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Truist Financial began coverage on FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. Bank of America upped their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.04.

FedEx Trading Up 1.3 %

Shares of FDX stock opened at $245.46 on Tuesday. The firm has a 50 day moving average price of $262.47 and a two-hundred day moving average price of $273.86. 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 company has a market capitalization of $59.12 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12-month low of $239.50 and a 12-month high of $313.84.

FedEx (NYSE:FDX) 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 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 business earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 2.25%. FedEx’s dividend payout ratio is 35.18%.

FedEx 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.