Wellington Shields Capital Management LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Wellington Shields Capital Management LLC cut its stake in FedEx Co. (NYSE:FDX) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the shipping service provider’s stock after selling 100 shares during the period. Wellington Shields Capital Management LLC’s holdings in FedEx were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new stake in FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co purchased a new position in FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $242.27 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $239.50 and a 1-year high of $313.84. The stock has a market cap of $58.35 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a fifty day moving average price of $263.04 and a 200 day moving average price of $274.51.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FDX shares. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus cut their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 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 stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $318.04.

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.