Accurate Wealth Management LLC Grows Holdings in FedEx Co. (NYSE:FDX)

Accurate Wealth Management LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 61.3% in the first quarter, HoldingsChannel reports. The fund owned 3,880 shares of the shipping service provider’s stock after acquiring an additional 1,475 shares during the period. Accurate Wealth Management LLC’s holdings in FedEx were worth $946,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Olstein Capital Management L.P. boosted its holdings in FedEx by 10.7% in the first quarter. Olstein Capital Management L.P. now owns 31,000 shares of the shipping service provider’s stock worth $7,557,000 after acquiring an additional 3,000 shares in the last quarter. Cetera Trust Company N.A boosted its stake in FedEx by 1.3% in the 1st quarter. Cetera Trust Company N.A now owns 8,025 shares of the shipping service provider’s stock worth $1,956,000 after purchasing an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in FedEx by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock worth $538,000 after purchasing an additional 481 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in FedEx by 11.9% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 1,754 shares of the shipping service provider’s stock valued at $430,000 after purchasing an additional 187 shares during the last quarter. Finally, Greystone Financial Group LLC bought a new stake in FedEx during the 1st quarter valued at about $8,398,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $227.80 on Wednesday. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $54.58 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.11 and a beta of 1.35. The business has a 50-day simple moving average of $215.61 and a two-hundred day simple moving average of $248.64.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.55%. FedEx’s payout ratio is 34.63%.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Wall Street Zen cut FedEx from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Stephens reissued an “overweight” rating and issued a $300.00 target price on shares of FedEx in a report on Tuesday, May 20th. Barclays lowered their price target on FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, June 3rd. Finally, Cfra Research upgraded FedEx to a “hold” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.