SteelPeak Wealth LLC Has $1.64 Million Stock Holdings in FedEx Co. (NYSE:FDX)

SteelPeak Wealth LLC reduced its holdings in FedEx Co. (NYSE:FDX) by 10.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,807 shares of the shipping service provider’s stock after selling 705 shares during the quarter. SteelPeak Wealth LLC’s holdings in FedEx were worth $1,642,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Virtu Financial LLC bought a new position in FedEx during the 3rd quarter worth $3,405,000. Czech National Bank raised its position in shares of FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Persium Advisors LLC bought a new stake in FedEx in the fourth quarter valued at approximately $530,000. Finally, Assenagon Asset Management S.A. increased its position in FedEx by 137.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock valued at $64,133,000 after purchasing an additional 132,036 shares during the period. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FDX. Bank of America boosted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James upped their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and raised their target price for the stock from $288.00 to $365.00 in a research note on Friday, December 20th. Finally, Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.43.

Insider Transactions at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’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 transaction of $1,100,271.00. Following the sale, the director now 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 disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Stock Down 1.2 %

FDX stock opened at $275.34 on Thursday. The stock’s 50 day moving average is $281.09 and its 200-day moving average is $282.86. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The firm has a market capitalization of $66.32 billion, a PE ratio of 17.55, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. FedEx’s dividend payout ratio is currently 35.18%.

About FedEx

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.