Lodestone Wealth Management LLC Takes $461,000 Position in FedEx Co. (NYSE:FDX)

Lodestone Wealth Management LLC purchased a new position in FedEx Co. (NYSE:FDX) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,638 shares of the shipping service provider’s stock, valued at approximately $461,000.

A number of other hedge funds have also recently made changes to their positions in FDX. Fortitude Family Office LLC grew its holdings in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth about $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth about $28,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on FDX shares. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Stephens dropped their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Raymond James increased their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $321.87.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost 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 of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly 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. 8.87% of the stock is currently owned by insiders.

FedEx Stock Performance

Shares of FedEx stock opened at $267.83 on Friday. The firm has a market capitalization of $64.51 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. 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 50 day moving average price of $272.65 and a 200 day moving average price of $279.45. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the firm posted $3.99 EPS. FedEx’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

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

About FedEx

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.