Shelton Wealth Management LLC Acquires 740 Shares of FedEx Co. (NYSE:FDX)

Shelton Wealth Management LLC raised its holdings in FedEx Co. (NYSE:FDX) by 18.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,693 shares of the shipping service provider’s stock after buying an additional 740 shares during the quarter. Shelton Wealth Management LLC’s holdings in FedEx were worth $1,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CGN Advisors LLC lifted its position in FedEx by 15.1% in the 4th quarter. CGN Advisors LLC now owns 9,315 shares of the shipping service provider’s stock valued at $2,621,000 after acquiring an additional 1,223 shares in the last quarter. Lake Street Private Wealth LLC lifted its holdings in shares of FedEx by 6.5% during the fourth quarter. Lake Street Private Wealth LLC now owns 14,669 shares of the shipping service provider’s stock valued at $4,127,000 after purchasing an additional 892 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of FedEx by 3.9% during the fourth quarter. Brooklyn Investment Group now owns 1,580 shares of the shipping service provider’s stock valued at $445,000 after buying an additional 59 shares during the last quarter. Merit Financial Group LLC increased its holdings in FedEx by 13.8% in the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider’s stock worth $796,000 after buying an additional 344 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in FedEx by 11.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 34,836 shares of the shipping service provider’s stock worth $9,800,000 after buying an additional 3,697 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on FDX shares. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. BMO Capital Markets lifted their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $288.00 to $365.00 in a report on Friday, December 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Two investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $325.61.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $275.11 on Friday. The company has a fifty day moving average of $283.70 and a two-hundred day moving average of $284.20. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market capitalization of $66.26 billion, a PE ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the firm earned $3.99 EPS. The business’s revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 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.