Lakeside Advisors INC. Lowers Position in FedEx Co. (NYSE:FDX)

Lakeside Advisors INC. lessened its holdings in FedEx Co. (NYSE:FDX) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,463 shares of the shipping service provider’s stock after selling 99 shares during the period. Lakeside Advisors INC.’s holdings in FedEx were worth $876,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the fourth quarter valued at about $31,000. Planned Solutions Inc. purchased a new stake in FedEx during the fourth quarter valued at about $32,000. Valley National Advisers Inc. increased its holdings in shares of FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, BOK Financial Private Wealth Inc. increased its holdings in shares of FedEx by 321.9% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock worth $34,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s 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 transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last 90 days. Company insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FDX shares. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Stephens decreased their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, December 20th. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a report on Monday, January 8th. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Down 0.7 %

Shares of FDX stock traded down $1.80 during trading hours on Wednesday, hitting $264.94. 1,421,134 shares of the company’s stock traded hands, compared to its average volume of 2,349,459. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The stock has a market cap of $65.20 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.26 and a beta of 1.21. The stock’s fifty day simple moving average is $257.89 and its two-hundred day simple moving average is $254.05. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 company 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 firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 EPS. On average, analysts expect that FedEx Co. will post 17.67 EPS for the current year.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. 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.