First Interstate Bank trimmed its position in shares of FedEx Co. (NYSE:FDX) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,494 shares of the shipping service provider’s stock after selling 354 shares during the period. First Interstate Bank’s holdings in FedEx were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Simon Quick Advisors LLC raised its holdings in shares of FedEx by 1,600.0% during the 4th quarter. Simon Quick Advisors LLC now owns 170 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 160 shares in the last quarter. Manchester Financial Inc. acquired a new position in FedEx during the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC bought a new position in shares of FedEx in the third quarter valued at approximately $33,000. TRUE Private Wealth Advisors bought a new position in shares of FedEx in the fourth quarter valued at approximately $40,000. Finally, Allred Capital Management LLC acquired a new stake in shares of FedEx in the fourth quarter worth $41,000. 69.79% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx stock traded down $1.82 during trading on Friday, reaching $159.65. The company’s stock had a trading volume of 32,344 shares, compared to its average volume of 2,660,703. The stock has a 50-day moving average price of $153.99 and a two-hundred day moving average price of $155.81. The stock has a market capitalization of $40.94 billion, a P/E ratio of 758.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.71. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 1.67. FedEx Co. has a one year low of $137.78 and a one year high of $199.32.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 9th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.63%. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
In related news, Director John A. Edwardson acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $148.22 per share, for a total transaction of $1,482,200.00. Following the completion of the acquisition, the director now owns 77,966 shares of the company’s stock, valued at approximately $11,556,120.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.44% of the company’s stock.
FDX has been the subject of several recent analyst reports. UBS Group raised shares of FedEx from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $167.00 to $181.00 in a report on Monday. Argus downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Stephens reissued a “buy” rating and set a $180.00 target price on shares of FedEx in a research report on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $167.00 target price (down previously from $175.00) on shares of FedEx in a research report on Wednesday, December 18th. Finally, ValuEngine cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $170.20.
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.
Further Reading: Relative Strength Index
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