Proficio Capital Partners LLC Takes Position in FedEx Co. (NYSE:FDX)

Proficio Capital Partners LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 199,284 shares of the shipping service provider’s stock, valued at approximately $56,065,000. Proficio Capital Partners LLC owned approximately 0.08% of FedEx at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WT Wealth Management increased its holdings in shares of FedEx by 4.8% during the fourth quarter. WT Wealth Management now owns 8,714 shares of the shipping service provider’s stock valued at $2,452,000 after acquiring an additional 403 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of FedEx by 2.1% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 93,300 shares of the shipping service provider’s stock valued at $26,248,000 after acquiring an additional 1,900 shares in the last quarter. Lineweaver Wealth Advisors LLC increased its holdings in shares of FedEx by 28.2% during the fourth quarter. Lineweaver Wealth Advisors LLC now owns 8,101 shares of the shipping service provider’s stock valued at $2,286,000 after acquiring an additional 1,782 shares in the last quarter. Heritage Investors Management Corp increased its holdings in shares of FedEx by 1.0% during the fourth quarter. Heritage Investors Management Corp now owns 92,322 shares of the shipping service provider’s stock valued at $25,973,000 after acquiring an additional 873 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at $95,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.0 %

FDX stock opened at $258.62 on Friday. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization 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 business has a 50 day simple moving average of $269.04 and a two-hundred day simple moving average of $277.52.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.99 EPS. Research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity

In related news, 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 transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the 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 sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. TD Cowen lifted their price objective on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company lifted their price objective on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

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.