Mission Wealth Management LP Has $1.16 Million Stake in FedEx Co. (NYSE:FDX)

Mission Wealth Management LP cut its position in FedEx Co. (NYSE:FDX) by 6.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,117 shares of the shipping service provider’s stock after selling 278 shares during the quarter. Mission Wealth Management LP’s holdings in FedEx were worth $1,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. bLong Financial LLC bought a new stake in FedEx during the fourth quarter worth $391,000. Virtu Financial LLC acquired a new position in shares of FedEx during the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC bought a new stake in shares of FedEx during the 4th quarter worth $461,000. Wedmont Private Capital boosted its stake in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after buying an additional 91 shares in the last quarter. Finally, GFS Advisors LLC bought a new position in FedEx in the fourth quarter valued at about $26,855,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $258.62 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $62.29 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.11 and a beta of 1.18. The company’s fifty day simple moving average is $268.58 and its 200 day simple moving average is $277.14. FedEx Co. has a 12-month low of $242.92 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 return on equity of 15.59% and a net margin of 4.45%. The company 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 business earned $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Activity

In other news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were 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. 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America increased 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. Stephens dropped their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Citigroup increased their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.74.

FedEx 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.