Perfromance Wealth Partners LLC Has $242,000 Position in FedEx Co. (NYSE:FDX)

Perfromance Wealth Partners LLC cut its position in FedEx Co. (NYSE:FDX) by 14.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 859 shares of the shipping service provider’s stock after selling 140 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in FedEx were worth $242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. IVC Wealth Advisors LLC grew its holdings in shares of FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after purchasing an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the last quarter. Buckley Wealth Management LLC grew its holdings in shares of FedEx by 1.0% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after purchasing an additional 40 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’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 transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Up 0.2 %

FedEx stock opened at $275.72 on Wednesday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm has a market capitalization of $66.41 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20. The firm’s fifty day moving average price is $283.19 and its two-hundred day moving average price is $283.74. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share 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 firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the firm earned $3.99 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDX. UBS Group boosted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Stifel Nicolaus boosted their target price on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $288.00 to $365.00 in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $325.61.

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.