FedEx Co. (FDX) Shares Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC increased its position in FedEx Co. (NYSE:FDX) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 20,491 shares of the shipping service provider’s stock after purchasing an additional 220 shares during the quarter. FedEx accounts for 2.8% of Westover Capital Advisors LLC’s holdings, making the stock its 3rd biggest holding. Westover Capital Advisors LLC’s holdings in FedEx were worth $5,113,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Ingalls & Snyder LLC grew its stake in FedEx by 2.4% in the fourth quarter. Ingalls & Snyder LLC now owns 8,119 shares of the shipping service provider’s stock worth $2,026,000 after purchasing an additional 193 shares in the last quarter. Bremer Trust National Association grew its stake in FedEx by 2.6% in the fourth quarter. Bremer Trust National Association now owns 7,822 shares of the shipping service provider’s stock worth $1,952,000 after purchasing an additional 197 shares in the last quarter. Central Bank & Trust Co. grew its stake in FedEx by 2.2% in the fourth quarter. Central Bank & Trust Co. now owns 9,345 shares of the shipping service provider’s stock worth $2,332,000 after purchasing an additional 201 shares in the last quarter. Cobiz Wealth LLC grew its stake in FedEx by 0.8% in the fourth quarter. Cobiz Wealth LLC now owns 25,472 shares of the shipping service provider’s stock worth $6,356,000 after purchasing an additional 202 shares in the last quarter. Finally, MAI Capital Management grew its stake in FedEx by 14.1% in the fourth quarter. MAI Capital Management now owns 1,632 shares of the shipping service provider’s stock worth $407,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

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In related news, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,541 shares of company stock worth $13,692,142. Corporate insiders own 8.45% of the company’s stock.

FDX has been the subject of a number of research reports. Loop Capital lifted their target price on FedEx to $318.00 in a research note on Thursday, January 4th. Oppenheimer restated a “buy” rating and issued a $265.00 target price (up from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Citigroup restated a “buy” rating and issued a $280.00 target price on shares of FedEx in a research note on Wednesday, December 20th. Stephens set a $306.00 target price on FedEx and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America lifted their target price on FedEx from $247.00 to $293.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $280.38.

Shares of FDX stock opened at $250.05 on Wednesday. The firm has a market capitalization of $66,867.92, a P/E ratio of 23.22, a PEG ratio of 1.45 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a twelve month low of $182.89 and a twelve month high of $274.66.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.61. The company had revenue of $16.53 billion for the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 earnings per share. sell-side analysts forecast that FedEx Co. will post 13.5 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.80%. FedEx’s dividend payout ratio (DPR) is presently 18.43%.

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About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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