IVC Wealth Advisors LLC Boosts Stake in FedEx Co. (NYSE:FDX)


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IVC Wealth Advisors LLC increased its position in FedEx Co. (NYSE:FDX) by 5.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,970 shares of the shipping service provider’s stock after buying an additional 95 shares during the period. IVC Wealth Advisors LLC’s holdings in FedEx were worth $560,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in FedEx during the 4th quarter valued at approximately $26,000. Vectors Research Management LLC purchased a new stake in FedEx during the 4th quarter valued at approximately $26,000. RMR Wealth Builders purchased a new stake in FedEx during the 4th quarter valued at approximately $27,000. Lowe Wealth Advisors LLC increased its position in FedEx by 500.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 120 shares of the shipping service provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Finally, Curi Capital acquired a new position in FedEx during the 4th quarter worth approximately $31,000. 72.74% of the stock is owned by institutional investors and hedge funds.

In related news, VP John L. Merino sold 10,000 shares of the stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $273.30, for a total value of $2,733,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kim Jabal sold 3,000 shares of the stock in a transaction on Monday, February 8th. The shares were sold at an average price of $256.89, for a total value of $770,670.00. Following the completion of the sale, the director now owns 3,750 shares of the company’s stock, valued at $963,337.50. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock worth $33,085,710 over the last ninety days. Corporate insiders own 8.49% of the company’s stock.

FDX has been the topic of several recent analyst reports. KeyCorp upgraded FedEx from a “sector weight” rating to an “overweight” rating and set a $350.00 target price on the stock in a research report on Monday. Berenberg Bank set a $325.00 target price on FedEx and gave the stock a “buy” rating in a research report on Friday, March 19th. Raymond James boosted their target price on FedEx from $305.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, March 25th. UBS Group restated a “buy” rating and issued a $383.00 price target on shares of FedEx in a report on Friday, March 19th. Finally, Sanford C. Bernstein set a $324.00 price target on FedEx and gave the stock a “buy” rating in a report on Wednesday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $314.63.

Shares of FedEx stock opened at $278.26 on Thursday. FedEx Co. has a fifty-two week low of $103.40 and a fifty-two week high of $305.66. The firm has a market cap of $73.83 billion, a PE ratio of 30.28, a P/E/G ratio of 1.22 and a beta of 1.30. The business’s fifty day moving average is $275.40 and its two-hundred day moving average is $269.41. The company has a quick ratio of 1.71, a current ratio of 1.76 and a debt-to-equity ratio of 1.10.

FedEx (NYSE:FDX) last issued its earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.26. The business had revenue of $21.51 billion for the quarter, compared to analyst estimates of $19.90 billion. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. Equities research analysts anticipate that FedEx Co. will post 17.24 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 8th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, March 5th. FedEx’s dividend payout ratio (DPR) is currently 27.37%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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