Beach Investment Counsel Inc. PA Sells 959 Shares of FedEx Co. (NYSE:FDX)

Beach Investment Counsel Inc. PA lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,909 shares of the shipping service provider’s stock after selling 959 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in FedEx were worth $1,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IVC Wealth Advisors LLC raised its stake in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after buying an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of FedEx by 3.0% in 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 buying an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC grew its stake in 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 worth $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC boosted its position 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 worth $1,088,000 after acquiring an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its position 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 worth $26,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

FedEx Stock Up 0.4 %

NYSE:FDX opened at $248.43 on Tuesday. The stock’s fifty day moving average price is $279.62 and its two-hundred day moving average price is $282.02. The company has a market cap of $59.83 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.10 and a beta of 1.18. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. 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 issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the company posted $3.99 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.22%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FDX shares. Stifel Nicolaus lowered their target price on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Raymond James lifted their target price on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Stephens lowered their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

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.