Processus Wealth & Capital Management LLC Increases Stake in FedEx Co. (NYSE:FDX)

Processus Wealth & Capital Management LLC boosted its stake in shares of FedEx Co. (NYSE:FDX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,505 shares of the shipping service provider’s stock after buying an additional 240 shares during the quarter. FedEx makes up approximately 3.7% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 7th biggest position. Processus Wealth & Capital Management LLC’s holdings in FedEx were worth $4,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IVC Wealth Advisors LLC grew its position in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its holdings in FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 directly 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. 8.87% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of NYSE FDX opened at $252.94 on Tuesday. The company has a market cap of $60.92 billion, a PE ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. 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 Co. has a 12-month low of $239.07 and a 12-month high of $313.84. The stock has a 50 day simple moving average of $270.14 and a 200-day simple moving average of $277.95.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the business earned $3.99 EPS. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. TD Cowen raised their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx 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.