Wunderlich Capital Managemnt Sells 57 Shares of FedEx Co. (FDX)
Wunderlich Capital Managemnt cut its stake in shares of FedEx Co. (NYSE:FDX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,547 shares of the shipping service provider’s stock after selling 57 shares during the quarter. FedEx makes up approximately 1.7% of Wunderlich Capital Managemnt’s portfolio, making the stock its 8th biggest position. Wunderlich Capital Managemnt’s holdings in FedEx were worth $2,186,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Berman Capital Advisors LLC purchased a new stake in FedEx during the fourth quarter worth approximately $25,000. Northwest Wealth Management LLC lifted its stake in FedEx by 842.1% during the fourth quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its stake in FedEx by 1,666.7% during the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in FedEx during the fourth quarter worth approximately $43,000. Finally, Burt Wealth Advisors lifted its stake in FedEx by 102.2% during the fourth quarter. Burt Wealth Advisors now owns 277 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. 71.48% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on FDX. Daiwa Capital Markets cut FedEx from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $187.00 to $179.00 in a research note on Thursday, March 21st. They noted that the move was a valuation call. Wells Fargo & Co reduced their price objective on FedEx from $285.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, March 21st. Bank of America reiterated a “neutral” rating and issued a $188.00 price objective (down previously from $193.00) on shares of FedEx in a research note on Wednesday, March 20th. Morgan Stanley reduced their price objective on FedEx from $156.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 20th. Finally, Credit Suisse Group boosted their price objective on FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $218.45.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.72 EPS. As a group, research analysts predict that FedEx Co. will post 15.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is currently 16.98%.
In other news, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David P. Steiner bought 7,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The stock was bought at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the acquisition, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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