Proficio Capital Partners LLC Acquires New Stake in FedEx Co. (NYSE:FDX)

Proficio Capital Partners LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 199,284 shares of the shipping service provider’s stock, valued at approximately $56,065,000. FedEx accounts for about 0.7% of Proficio Capital Partners LLC’s portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. bLong Financial LLC acquired a new stake in shares of FedEx in the 4th quarter worth $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx in the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the 4th quarter worth $461,000. Wedmont Private Capital increased its stake in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter worth $26,855,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FDX shares. BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Bank of America raised their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.04.

FedEx Price Performance

FDX stock opened at $240.74 on Friday. The business has a 50 day moving average price of $263.68 and a 200 day moving average price of $274.89. The stock has a market cap of $57.98 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

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, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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 given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insiders Place Their Bets

In other news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred 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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate 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.