Focus Financial Network Inc. Sells 86 Shares of FedEx Co. (NYSE:FDX)

Focus Financial Network Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,189 shares of the shipping service provider’s stock after selling 86 shares during the period. Focus Financial Network Inc.’s holdings in FedEx were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in FedEx during the 3rd quarter worth about $97,000. CX Institutional lifted its position in shares of FedEx by 7.6% during the third quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock worth $698,000 after purchasing an additional 180 shares in the last quarter. Creative Planning grew its stake in shares of FedEx by 15.7% during the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after purchasing an additional 11,081 shares during the last quarter. Swedbank AB increased its holdings in shares of FedEx by 0.4% in the third quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock valued at $30,495,000 after purchasing an additional 403 shares in the last quarter. Finally, Opal Wealth Advisors LLC raised its position in FedEx by 12.3% in the 3rd quarter. Opal Wealth Advisors LLC now owns 2,321 shares of the shipping service provider’s stock worth $635,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on FDX shares. Citigroup increased their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Stifel Nicolaus reduced their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, BMO Capital Markets boosted their price target on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly 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. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Up 0.7 %

Shares of NYSE:FDX opened at $262.96 on Thursday. The firm has a market cap of $63.33 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.07 and a beta of 1.18. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company’s fifty day simple moving average is $273.38 and its 200 day simple moving average is $279.68. 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 issued its quarterly 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 company had revenue of $22 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $3.99 earnings per share. As a group, research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.10%. 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.