Alpha Omega Wealth Management LLC Has $273,000 Holdings in FedEx Co. (NYSE:FDX)

Alpha Omega Wealth Management LLC increased its holdings in shares of FedEx Co. (NYSE:FDX) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 997 shares of the shipping service provider’s stock after buying an additional 100 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in FedEx were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fortis Group Advisors LLC raised its stake in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $25,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Security National Bank acquired a new stake in shares of FedEx in the 4th quarter valued at about $44,000. Finally, Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,914 shares of company stock worth $3,978,338. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. JPMorgan Chase & Co. decreased their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, UBS Group reduced their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Price Performance

FDX traded down $1.24 during trading on Friday, hitting $260.84. 1,638,679 shares of the stock traded hands, compared to its average volume of 1,881,833. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market cap of $64.19 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a 50 day moving average price of $284.62 and a 200 day moving average price of $275.81.

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

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.12%. FedEx’s dividend payout ratio is currently 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.