NBC Securities Inc. Makes New Investment in FedEx Co. (NYSE:FDX)

NBC Securities Inc. purchased a new position in FedEx Co. (NYSE:FDX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 603 shares of the shipping service provider’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Brighton Jones LLC raised its holdings in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter worth $84,000. Vest Financial LLC increased its stake in shares of FedEx by 21.7% in the fourth quarter. Vest Financial LLC now owns 1,494 shares of the shipping service provider’s stock worth $420,000 after acquiring an additional 266 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of FedEx by 8.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,261 shares of the shipping service provider’s stock worth $917,000 after acquiring an additional 247 shares during the period. Finally, Quotient Wealth Partners LLC increased its stake in shares of FedEx by 14.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,099 shares of the shipping service provider’s stock worth $309,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.1%

Shares of NYSE FDX opened at $222.12 on Tuesday. The company’s 50-day simple moving average is $215.36 and its 200-day simple moving average is $248.78. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. 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 quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 earnings per share. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be paid a $1.45 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.61%. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and cut their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and cut their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Raymond James cut their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $295.33.

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.