CIBC Private Wealth Group LLC Has $7.96 Million Stake in FedEx Co. (NYSE:FDX)

CIBC Private Wealth Group LLC raised its position in shares of FedEx Co. (NYSE:FDXFree Report) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,480 shares of the shipping service provider’s stock after buying an additional 700 shares during the period. CIBC Private Wealth Group LLC’s holdings in FedEx were worth $7,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. KRS Capital Management LLC increased its holdings in shares of FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in shares of FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 42 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in shares of FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after purchasing an additional 44 shares in the last quarter. Finally, Wade G W & Inc. increased its holdings in shares of FedEx by 0.3% in the third quarter. Wade G W & Inc. now owns 17,283 shares of the shipping service provider’s stock valued at $4,579,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling

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

FedEx Price Performance

Shares of NYSE FDX opened at $250.27 on Friday. The firm has a market cap of $61.59 billion, a PE ratio of 14.43, a PEG ratio of 0.90 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a 1-year low of $220.02 and a 1-year high of $291.27. The company has a fifty day moving average price of $262.20 and a 200 day moving average price of $256.63.

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, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.41 EPS. Research analysts predict that FedEx Co. will post 17.71 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts recently weighed in on FDX shares. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Robert W. Baird raised their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Bank of America lowered their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $302.12.

View Our Latest Stock Report on FedEx

FedEx Company 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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