Peapack Gladstone Financial Corp Buys 239 Shares of FedEx Co. (NYSE:FDX)

Peapack Gladstone Financial Corp raised its stake in FedEx Co. (NYSE:FDX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,169 shares of the shipping service provider’s stock after purchasing an additional 239 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in FedEx were worth $15,801,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Cetera Trust Company N.A raised its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after acquiring an additional 40 shares in the last quarter. Griffin Asset Management Inc. boosted its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares in the last quarter. Aviso Financial Inc. grew its stake in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after purchasing an additional 40 shares during the period. Richard P Slaughter Associates Inc increased its holdings in FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after purchasing an additional 42 shares in the last quarter. Finally, WealthPlan Investment Management LLC boosted its holdings in shares of FedEx by 2.6% during the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FDX shares. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. UBS Group cut their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

FedEx Stock Performance

Shares of FDX opened at $209.90 on Friday. The stock has a 50 day moving average of $252.45 and a 200 day moving average of $268.95. 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 $203.90 and a 12 month high of $313.84. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.86 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by company insiders.

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.