Fidelis Capital Partners LLC Has $239,000 Position in FedEx Co. (NYSE:FDX)

Fidelis Capital Partners LLC reduced its stake in FedEx Co. (NYSE:FDX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 943 shares of the shipping service provider’s stock after selling 53 shares during the quarter. Fidelis Capital Partners LLC’s holdings in FedEx were worth $239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Trust Point Inc. acquired a new stake in FedEx in the 4th quarter worth approximately $282,000. Planned Solutions Inc. acquired a new stake in FedEx in the 4th quarter worth approximately $32,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after purchasing an additional 13,642 shares during the last quarter. Finally, Skba Capital Management LLC lifted its holdings in shares of FedEx by 0.3% during the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after buying an additional 100 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock worth $37,758,773 over the last 90 days. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $266.99 on Friday. The stock’s fifty day moving average is $259.22 and its 200-day moving average is $254.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market capitalization of $65.70 billion, a PE ratio of 15.40, a PEG ratio of 1.26 and a beta of 1.21. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 earnings per share. Equities research analysts expect that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx declared that its board has authorized a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FDX. The Goldman Sachs Group upped their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank of America cut their price target on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Jefferies Financial Group upped their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

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.