AMI Investment Management Inc. Grows Stock Position in FedEx Co. (NYSE:FDX)

AMI Investment Management Inc. raised its position in FedEx Co. (NYSE:FDX) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,490 shares of the shipping service provider’s stock after buying an additional 147 shares during the period. FedEx accounts for about 1.6% of AMI Investment Management Inc.’s holdings, making the stock its 19th largest holding. AMI Investment Management Inc.’s holdings in FedEx were worth $3,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. RB Capital Management LLC increased its position in FedEx by 3.3% during the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 63 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of FedEx by 101.5% during the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of FedEx by 7.8% during the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of FedEx by 553.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in FedEx by 96.5% during the first quarter. Zions Bancorporation N.A. now owns 853 shares of the shipping service provider’s stock worth $197,000 after purchasing an additional 419 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FedEx stock opened at $289.70 on Friday. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The business has a fifty day moving average price of $249.64 and a 200-day moving average price of $252.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market capitalization of $71.29 billion, a P/E ratio of 16.71, a PEG ratio of 1.36 and a beta of 1.20.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $1.26 dividend. The ex-dividend date is Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.74%. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its board has authorized a stock buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. Jefferies Financial Group raised their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Stephens lowered their price target on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, December 20th. TD Cowen lifted their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. UBS Group lifted their target price on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $301.07.

Insider Transactions at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s 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 sale, the vice president now directly 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 can be accessed through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s 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 completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,393 shares of company stock worth $5,581,475. Company insiders own 8.73% of the company’s stock.

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.