Lake Street Private Wealth LLC Purchases 892 Shares of FedEx Co. (NYSE:FDX)

Lake Street Private Wealth LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 6.5% during the fourth quarter, HoldingsChannel reports. The fund owned 14,669 shares of the shipping service provider’s stock after buying an additional 892 shares during the quarter. Lake Street Private Wealth LLC’s holdings in FedEx were worth $4,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FDX. Fortitude Family Office LLC grew its holdings in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter worth approximately $28,000. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter valued at approximately $31,000. Finally, FNY Investment Advisers LLC raised its stake in shares of FedEx by 177.5% during the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.8 %

NYSE FDX opened at $275.11 on Friday. 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 Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The business has a 50 day moving average price of $283.70 and a 200-day moving average price of $284.20. The company has a market cap of $66.26 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the business posted $3.99 EPS. FedEx’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, UBS Group upped their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $325.61.

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.