Eukles Asset Management Reduces Position in FedEx Co. (NYSE:FDX)

Eukles Asset Management decreased its holdings in FedEx Co. (NYSE:FDX) by 6.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,171 shares of the shipping service provider’s stock after selling 658 shares during the period. Eukles Asset Management’s holdings in FedEx were worth $2,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. IVC Wealth Advisors LLC grew its stake in FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after buying an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its stake in shares of FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the period. Buckley Wealth Management LLC lifted its holdings in FedEx by 1.0% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after purchasing an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FDX. Barclays upped their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and cut their price target for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Citigroup upped their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Stock Performance

FedEx stock opened at $256.01 on Monday. The firm has a fifty day simple moving average of $274.59 and a two-hundred day simple moving average of $280.36. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market capitalization of $61.66 billion, a PE ratio of 16.32, a P/E/G ratio of 1.07 and a beta of 1.18. 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 issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The company 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%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 EPS. Research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s payout ratio is 35.18%.

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.