B. Riley Wealth Advisors Inc. Buys 9,138 Shares of FedEx Co. (NYSE:FDX)

B. Riley Wealth Advisors Inc. increased its position in FedEx Co. (NYSE:FDX – Get Rating) by 51.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,897 shares of the shipping service provider’s stock after acquiring an additional 9,138 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in FedEx were worth $3,995,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Coston McIsaac & Partners bought a new position in FedEx in the 2nd quarter worth $30,000. Cowa LLC bought a new position in shares of FedEx during the 3rd quarter valued at about $33,000. Providence First Trust Co purchased a new stake in shares of FedEx during the 3rd quarter valued at about $35,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx during the 1st quarter valued at about $35,000. Finally, Parkwood LLC raised its position in shares of FedEx by 3.8% during the 2nd quarter. Parkwood LLC now owns 37,037 shares of the shipping service provider’s stock valued at $37,000 after buying an additional 1,373 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FedEx stock opened at $204.05 on Friday. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $248.76. The company has a market cap of $51.50 billion, a PE ratio of 16.03, a P/E/G ratio of 1.22 and a beta of 1.31. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.25. The company has a fifty day moving average price of $200.45 and a two-hundred day moving average price of $181.61.

FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.69. The business had revenue of $22.17 billion during the quarter, compared to the consensus estimate of $22.74 billion. FedEx had a net margin of 3.54% and a return on equity of 19.17%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.59 earnings per share. Research analysts expect that FedEx Co. will post 13.5 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.60 annualized dividend and a dividend yield of 2.25%. FedEx’s payout ratio is 36.14%.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane acquired 280 shares of FedEx stock in a transaction dated Tuesday, January 3rd. The stock was bought at an average cost of $175.83 per share, with a total value of $49,232.40. Following the completion of the transaction, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FDX. BMO Capital Markets increased their price objective on shares of FedEx from $180.00 to $210.00 and gave the stock a “market perform” rating in a research report on Monday. Jefferies Financial Group lifted their price objective on shares of FedEx from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, December 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of FedEx from $190.00 to $217.00 in a report on Monday, November 28th. Bank of America raised shares of FedEx from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $204.00 to $233.00 in a report on Thursday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of FedEx from $185.00 to $225.00 in a report on Friday, March 10th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

About FedEx

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.