Westside Investment Management Inc. Has $1.38 Million Position in FedEx Co. (NYSE:FDX)

Westside Investment Management Inc. raised its stake in FedEx Co. (NYSE:FDX) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,908 shares of the shipping service provider’s stock after buying an additional 49 shares during the quarter. Westside Investment Management Inc.’s holdings in FedEx were worth $1,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in FedEx by 49.0% in the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after purchasing an additional 948 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of FedEx by 6.2% during the 2nd quarter. ProShare Advisors LLC now owns 38,209 shares of the shipping service provider’s stock valued at $11,457,000 after buying an additional 2,230 shares during the last quarter. Bank of Montreal Can grew its stake in shares of FedEx by 13.1% in the 2nd quarter. Bank of Montreal Can now owns 313,851 shares of the shipping service provider’s stock valued at $94,130,000 after buying an additional 36,318 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in FedEx by 57.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,815 shares of the shipping service provider’s stock worth $13,437,000 after buying an additional 16,382 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in FedEx during the second quarter valued at approximately $2,956,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $271.76 on Wednesday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a market capitalization of $65.45 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.14 and a beta of 1.20. The stock has a 50 day moving average of $282.95 and a two-hundred day moving average of $283.61. 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 (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 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 analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $3.99 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FDX. Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and increased their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Raymond James raised their price objective on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $325.61.

Insiders Place Their Bets

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s 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 completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

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.