Independent Advisor Alliance Cuts Holdings in FedEx Co. (NYSE:FDX)

Independent Advisor Alliance lessened its position in FedEx Co. (NYSE:FDX) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,364 shares of the shipping service provider’s stock after selling 800 shares during the quarter. Independent Advisor Alliance’s holdings in FedEx were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. United Bank purchased a new stake in FedEx in the third quarter worth approximately $615,000. Apollon Wealth Management LLC lifted its holdings in shares of FedEx by 12.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,861 shares of the shipping service provider’s stock worth $1,057,000 after acquiring an additional 437 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after purchasing an additional 40 shares in the last quarter. Haverford Trust Co grew its holdings in shares of FedEx by 7.3% during the 3rd quarter. Haverford Trust Co now owns 1,840 shares of the shipping service provider’s stock valued at $504,000 after purchasing an additional 125 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in FedEx by 10.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,713 shares of the shipping service provider’s stock worth $3,479,000 after purchasing an additional 1,174 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $240.74 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50 day moving average price of $263.68 and a 200-day moving average price of $274.89. FedEx Co. has a 52-week low of $239.50 and a 52-week high of $313.84. The firm has a market capitalization of $57.98 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23.

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 business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.29%. FedEx’s payout ratio is currently 35.18%.

Insider Activity at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

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.