867 Shares in FedEx Co. (NYSE:FDX) Acquired by Williams & Novak LLC

Williams & Novak LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 867 shares of the shipping service provider’s stock, valued at approximately $237,000.

Several other large investors also recently added to or reduced their stakes in the stock. Callan Family Office LLC grew its holdings in FedEx by 20.8% in the 3rd quarter. Callan Family Office LLC now owns 3,053 shares of the shipping service provider’s stock valued at $836,000 after buying an additional 525 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in FedEx by 10.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 1,229 shares of the shipping service provider’s stock valued at $336,000 after buying an additional 120 shares in the last quarter. Chapin Davis Inc. grew its holdings in FedEx by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 4,871 shares of the shipping service provider’s stock valued at $1,333,000 after buying an additional 63 shares in the last quarter. Value Partners Investments Inc. grew its holdings in FedEx by 0.3% in the 3rd quarter. Value Partners Investments Inc. now owns 144,613 shares of the shipping service provider’s stock valued at $39,578,000 after buying an additional 456 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in FedEx by 44.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,733 shares of the shipping service provider’s stock valued at $748,000 after buying an additional 836 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now owns 6,955 shares of the company’s stock, valued at approximately $2,081,909.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,914 shares of company stock valued at $3,978,338. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research analyst reports. TD Cowen lowered their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Susquehanna lowered their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Wells Fargo & Company increased their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Price Performance

FDX stock opened at $260.50 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The firm has a market capitalization of $64.10 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.04 and a beta of 1.17. The business’s 50-day moving average is $284.62 and its two-hundred day moving average is $276.05.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the business posted $4.55 EPS. FedEx’s revenue was down .5% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.