FAS Wealth Partners Inc. Takes $216,000 Position in FedEx Co. (NYSE:FDX)

FAS Wealth Partners Inc. purchased a new stake in FedEx Co. (NYSE:FDXFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 853 shares of the shipping service provider’s stock, valued at approximately $216,000.

Several other large investors have also modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $388,787,000. Mizuho Markets Americas LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $496,611,000. FMR LLC grew its position in shares of FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the last quarter. Marshall Wace LLP boosted its position in FedEx by 2,602.9% during the second quarter. Marshall Wace LLP now owns 608,210 shares of the shipping service provider’s stock worth $150,775,000 after acquiring an additional 632,510 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in FedEx by 144.4% during the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after acquiring an additional 595,628 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX stock opened at $275.33 on Wednesday. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The company has a market cap of $67.75 billion, a PE ratio of 15.88, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company’s fifty day simple moving average is $252.00 and its 200-day simple moving average is $253.00.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 17.6 EPS for the current year.

FedEx declared that its board has approved a share repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The disclosure for this sale can be found here. In the last three months, insiders sold 19,393 shares of company stock worth $5,581,475. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on FDX shares. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Bank of America decreased their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus decreased their target price on shares of FedEx from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, TD Cowen raised their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.85.

Check Out Our Latest Stock Analysis on FDX

FedEx Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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