SlateStone Wealth LLC Invests $2.37 Million in FedEx Co. (FDX) Stock

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SlateStone Wealth LLC purchased a new position in FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,713 shares of the shipping service provider’s stock, valued at approximately $2,374,000. FedEx makes up about 1.1% of SlateStone Wealth LLC’s investment portfolio, making the stock its 26th largest holding.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in FedEx by 2.2% in the third quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock valued at $132,752,000 after acquiring an additional 11,798 shares during the period. Creative Planning boosted its stake in FedEx by 16.0% in the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock valued at $5,723,000 after acquiring an additional 4,901 shares during the period. Voit & Company LLC acquired a new position in FedEx in the fourth quarter valued at approximately $2,175,000. Focused Investors LLC acquired a new position in FedEx in the fourth quarter valued at approximately $66,774,000. Finally, Tower Bridge Advisors boosted its stake in FedEx by 5.1% in the fourth quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock valued at $12,236,000 after acquiring an additional 3,686 shares during the period. Institutional investors and hedge funds own 71.39% of the company’s stock.

In other news, Director David P. Steiner bought 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were purchased at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the acquisition, the director now directly owns 25,994 shares in the company, valued at $4,234,942.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the sale, the vice president now directly owns 30,185 shares in the company, valued at approximately $5,500,914.40. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

FDX has been the subject of a number of research reports. Loop Capital decreased their target price on FedEx to $262.00 in a research note on Wednesday, December 19th. Citigroup decreased their target price on FedEx from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Deutsche Bank decreased their target price on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. JPMorgan Chase & Co. restated a “buy” rating and issued a $256.00 target price on shares of FedEx in a research note on Tuesday, December 18th. Finally, Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $226.00 target price for the company in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $234.74.

FDX opened at $177.98 on Friday. The company has a market cap of $46.46 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. FedEx Co. has a twelve month low of $150.94 and a twelve month high of $266.67.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same period last year, the firm posted $3.18 EPS. As a group, analysts anticipate that FedEx Co. will post 15.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, March 8th. This represents a $2.60 annualized dividend and a yield of 1.46%. FedEx’s payout ratio is 16.98%.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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