Verus Capital Partners LLC Acquires 81 Shares of FedEx Co. (NYSE:FDX)

Verus Capital Partners LLC grew its holdings in FedEx Co. (NYSE:FDX) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,494 shares of the shipping service provider’s stock after acquiring an additional 81 shares during the period. Verus Capital Partners LLC’s holdings in FedEx were worth $983,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in FedEx by 2,102.2% during the third quarter. JFS Wealth Advisors LLC now owns 2,048 shares of the shipping service provider’s stock valued at $560,000 after buying an additional 1,955 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of FedEx by 9.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 934 shares of the shipping service provider’s stock valued at $256,000 after acquiring an additional 83 shares in the last quarter. US Bancorp DE lifted its holdings in FedEx by 0.8% in the 3rd quarter. US Bancorp DE now owns 115,634 shares of the shipping service provider’s stock worth $31,647,000 after purchasing an additional 910 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its position in FedEx by 3.7% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 46,706 shares of the shipping service provider’s stock worth $12,783,000 after purchasing an additional 1,653 shares during the period. Finally, Pacific Sage Partners LLC grew its holdings in FedEx by 9.5% during the third quarter. Pacific Sage Partners LLC now owns 1,156 shares of the shipping service provider’s stock valued at $316,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Stifel Nicolaus lowered their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Stock Up 1.8 %

NYSE FDX opened at $263.11 on Friday. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $268.78 and its two-hundred day moving average is $277.40. The company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly 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. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 EPS. Equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling 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 stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on 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 sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Company 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.