WealthPLAN Partners LLC Cuts Holdings in FedEx Co. (NYSE:FDX)


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WealthPLAN Partners LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,765 shares of the shipping service provider’s stock after selling 2,081 shares during the period. WealthPLAN Partners LLC’s holdings in FedEx were worth $6,144,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in shares of FedEx by 2.2% in the 3rd quarter. Trust Co. of Vermont now owns 1,764 shares of the shipping service provider’s stock worth $444,000 after buying an additional 38 shares during the last quarter. Holderness Investments Co. boosted its stake in shares of FedEx by 0.6% in the 3rd quarter. Holderness Investments Co. now owns 5,891 shares of the shipping service provider’s stock worth $1,482,000 after buying an additional 38 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of FedEx by 1.4% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,780 shares of the shipping service provider’s stock worth $699,000 after buying an additional 39 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of FedEx by 1.8% in the 3rd quarter. IHT Wealth Management LLC now owns 2,324 shares of the shipping service provider’s stock worth $584,000 after buying an additional 40 shares during the last quarter. Finally, Mcmillion Capital Management Inc. boosted its stake in shares of FedEx by 0.5% in the 4th quarter. Mcmillion Capital Management Inc. now owns 8,819 shares of the shipping service provider’s stock worth $2,290,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 72.74% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Cowen raised their price target on FedEx from $290.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 16th. Oppenheimer reiterated a “hold” rating on shares of FedEx in a research report on Friday, December 18th. UBS Group lifted their target price on FedEx from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, December 8th. Smith Barney Citigroup lifted their target price on FedEx from $300.00 to $365.00 in a research report on Thursday, December 3rd. Finally, Barclays upgraded FedEx from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $240.00 to $360.00 in a research report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. FedEx has an average rating of “Buy” and an average target price of $312.00.

In related news, Director Kim Jabal sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was 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 in the company, valued at $963,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.49% of the stock is currently owned by insiders.

FDX traded down $2.10 on Tuesday, hitting $252.57. The company had a trading volume of 52,886 shares, compared to its average volume of 2,633,982. The company has a market cap of $66.95 billion, a PE ratio of 27.71, a PEG ratio of 1.22 and a beta of 1.30. FedEx Co. has a 12-month low of $88.69 and a 12-month high of $305.66. The company has a quick ratio of 1.71, a current ratio of 1.76 and a debt-to-equity ratio of 1.10. The business’s fifty day simple moving average is $251.37 and its 200 day simple moving average is $255.66.

FedEx (NYSE:FDX) last released its quarterly earnings results on Wednesday, December 16th. The shipping service provider reported $4.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.01 by $0.82. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter last year, the business posted $2.51 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 17.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Monday, March 8th will be issued a $0.65 dividend. The ex-dividend date is Friday, March 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. FedEx’s payout ratio is 27.37%.

FedEx Profile

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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