EverSource Wealth Advisors LLC Sells 5,634 Shares of FedEx Co. (NYSE:FDX)

EverSource Wealth Advisors LLC decreased its position in FedEx Co. (NYSE:FDX) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,875 shares of the shipping service provider’s stock after selling 5,634 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in FedEx were worth $1,934,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. bought a new position in shares of FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter valued at $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the fourth quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.3 %

Shares of NYSE:FDX opened at $243.66 on Thursday. The stock has a 50 day moving average of $264.35 and a 200 day moving average of $275.13. The company has a market cap of $58.69 billion, a PE ratio of 15.53, a price-to-earnings-growth 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 12-month low of $239.50 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. The company 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 firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $3.99 EPS. As a group, equities research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business 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 dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred 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 directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % 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 corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Bank of America increased their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $318.58.

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.