Cetera Investment Advisers Has $23.52 Million Position in FedEx Co. (NYSE:FDX)

Cetera Investment Advisers decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,588 shares of the shipping service provider’s stock after selling 2,087 shares during the quarter. Cetera Investment Advisers’ holdings in FedEx were worth $23,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in FedEx by 7.5% in the 4th quarter. Captrust Financial Advisors now owns 114,865 shares of the shipping service provider’s stock valued at $32,315,000 after purchasing an additional 8,061 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of FedEx in the fourth quarter valued at approximately $10,222,000. Chapman Financial Group LLC acquired a new stake in FedEx during the fourth quarter worth approximately $1,496,000. Baird Financial Group Inc. increased its stake in FedEx by 10.1% during the 4th quarter. Baird Financial Group Inc. now owns 76,855 shares of the shipping service provider’s stock worth $21,622,000 after acquiring an additional 7,034 shares during the period. Finally, Banque Transatlantique SA acquired a new position in FedEx in the 4th quarter valued at $62,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FDX. Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price target on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. TD Cowen cut their target price on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $297.71.

FedEx Trading Up 1.7 %

NYSE:FDX opened at $219.13 on Friday. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The firm’s fifty day moving average is $225.30 and its 200-day moving average is $258.45. The firm has a market cap of $52.50 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the business posted $3.86 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.52%. FedEx’s dividend payout ratio is currently 34.63%.

About FedEx

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.