Flputnam Investment Management Co. Sells 358 Shares of FedEx Co. (NYSE:FDX)

Flputnam Investment Management Co. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,697 shares of the shipping service provider’s stock after selling 358 shares during the period. Flputnam Investment Management Co.’s holdings in FedEx were worth $1,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Mackenzie Financial Corp boosted its holdings in shares of FedEx by 67.1% during the 4th quarter. Mackenzie Financial Corp now owns 229,954 shares of the shipping service provider’s stock valued at $58,171,000 after buying an additional 92,352 shares in the last quarter. BOK Financial Private Wealth Inc. raised its position in shares of FedEx by 321.9% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 103 shares during the last quarter. MBM Wealth Consultants LLC raised its position in shares of FedEx by 15.0% in the 4th quarter. MBM Wealth Consultants LLC now owns 3,843 shares of the shipping service provider’s stock worth $953,000 after purchasing an additional 502 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of FedEx by 2.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 11,694 shares of the shipping service provider’s stock worth $2,958,000 after purchasing an additional 241 shares during the last quarter. Finally, Waldron Private Wealth LLC raised its position in shares of FedEx by 34.1% in the 4th quarter. Waldron Private Wealth LLC now owns 3,779 shares of the shipping service provider’s stock worth $960,000 after purchasing an additional 962 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 in the last three months. 8.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Evercore ISI lifted their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. UBS Group boosted their target price on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Bank Of America (Bofa) boosted their target price on FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. Finally, Morgan Stanley boosted their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Down 0.7 %

Shares of NYSE:FDX opened at $264.86 on Wednesday. The stock has a 50 day moving average of $257.89 and a 200 day moving average of $254.05. The company has a market cap of $65.18 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.26 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. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion during 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 firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 EPS. As a group, equities research analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx announced that its board has authorized a stock repurchase 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 purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.90%. FedEx’s payout ratio is 29.07%.

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.