Atria Wealth Solutions Inc. Boosts Holdings in FedEx Co. (NYSE:FDX)

Atria Wealth Solutions Inc. lifted its stake in FedEx Co. (NYSE:FDX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,242 shares of the shipping service provider’s stock after buying an additional 373 shares during the period. Atria Wealth Solutions Inc.’s holdings in FedEx were worth $3,615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. KRS Capital Management LLC grew its position in shares of FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares during the last quarter. Zullo Investment Group Inc. grew its position in shares of FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after buying an additional 42 shares during the last quarter. Toth Financial Advisory Corp grew its position in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after buying an additional 44 shares during the last quarter. SVB Wealth LLC grew its position in shares of FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Bank of America decreased their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now directly owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last three months, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Up 0.1 %

Shares of NYSE FDX opened at $265.84 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The firm has a 50-day moving average price of $262.17 and a 200 day moving average price of $254.49. The stock has a market capitalization of $65.42 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.90%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx announced that its Board of Directors has approved a share repurchase program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.