FedEx Co. (NYSE:FDX) Stake Lifted by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. increased its stake in shares of FedEx Co. (NYSE:FDX) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,900 shares of the shipping service provider’s stock after buying an additional 546 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in FedEx were worth $1,097,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new position in FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter worth $28,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter worth $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 1.5 %

Shares of FedEx stock opened at $242.92 on Wednesday. The stock has a 50-day moving average price of $265.10 and a 200 day moving average price of $275.35. The company has a market cap of $58.51 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.11 and a beta of 1.23. 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 Co. has a 1 year low of $241.78 and a 1 year 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, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $3.99 EPS. As a group, analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling

In other news, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated 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 directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FDX. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Stephens decreased their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen upped their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.58.

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.