Proficio Capital Partners LLC Takes $56.07 Million Position in FedEx Co. (NYSE:FDX)

Proficio Capital Partners LLC bought a new stake in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 199,284 shares of the shipping service provider’s stock, valued at approximately $56,065,000. FedEx accounts for about 0.7% of Proficio Capital Partners LLC’s investment portfolio, making the stock its 19th biggest position. Proficio Capital Partners LLC owned approximately 0.08% of FedEx at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. bLong Financial LLC purchased a new stake in FedEx in the fourth quarter worth about $391,000. Virtu Financial LLC purchased a new stake in FedEx in the third quarter worth about $3,405,000. Lodestone Wealth Management LLC purchased a new stake in FedEx in the fourth quarter worth about $461,000. Wedmont Private Capital lifted its stake in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC purchased a new stake in FedEx in the fourth quarter worth about $26,855,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $240.74 on Friday. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84. The company’s 50 day moving average is $263.68 and its 200 day moving average is $274.89. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $57.98 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the company earned $3.99 EPS. FedEx’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.29%. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stephens reduced their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $318.04.

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.