Frontier Wealth Management LLC Sells 1,087 Shares of FedEx Co. (NYSE:FDX)

Frontier Wealth Management LLC lowered its stake in FedEx Co. (NYSE:FDXGet Rating) by 31.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,383 shares of the shipping service provider’s stock after selling 1,087 shares during the period. Frontier Wealth Management LLC’s holdings in FedEx were worth $616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of FedEx in the fourth quarter worth $26,000. Destiny Wealth Partners LLC acquired a new stake in FedEx in the third quarter valued at about $32,000. Level Financial Advisors Inc. acquired a new stake in FedEx in the fourth quarter valued at about $34,000. Activest Wealth Management boosted its stake in FedEx by 65.9% in the fourth quarter. Activest Wealth Management now owns 151 shares of the shipping service provider’s stock valued at $39,000 after buying an additional 60 shares in the last quarter. Finally, JNBA Financial Advisors boosted its stake in FedEx by 44.8% in the fourth quarter. JNBA Financial Advisors now owns 152 shares of the shipping service provider’s stock valued at $39,000 after buying an additional 47 shares in the last quarter. Institutional investors own 77.76% of the company’s stock.

NYSE FDX opened at $205.74 on Monday. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.83 and a beta of 1.31. FedEx Co. has a 52 week low of $199.03 and a 52 week high of $319.90. The business has a 50 day moving average price of $219.91 and a 200-day moving average price of $235.28. The company has a quick ratio of 1.35, a current ratio of 1.39 and a debt-to-equity ratio of 0.83.

FedEx (NYSE:FDXGet Rating) last announced its earnings results on Thursday, March 17th. The shipping service provider reported $4.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.64 by ($0.05). FedEx had a net margin of 5.60% and a return on equity of 20.67%. The company had revenue of $23.64 billion for the quarter, compared to analysts’ expectations of $23.33 billion. During the same period in the previous year, the firm earned $3.47 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 20.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Monday, March 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. FedEx’s dividend payout ratio is presently 15.75%.

Several analysts recently weighed in on FDX shares. Deutsche Bank Aktiengesellschaft reduced their price objective on FedEx from $310.00 to $298.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Morgan Stanley reduced their price objective on FedEx from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Friday, March 18th. Credit Suisse Group set a $294.00 price objective on FedEx in a research note on Friday, March 18th. Barclays reduced their price objective on FedEx from $345.00 to $320.00 in a research note on Friday, March 18th. Finally, Bank of America cut their price target on FedEx from $297.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Buy” and a consensus target price of $299.55.

FedEx Company Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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