FedEx Co. (NYSE:FDX) Shares Purchased by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc raised its holdings in shares of FedEx Co. (NYSE:FDX) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,576 shares of the shipping service provider’s stock after purchasing an additional 110 shares during the quarter. FedEx accounts for 1.6% of O Brien Greene & Co. Inc’s portfolio, making the stock its 28th largest position. O Brien Greene & Co. Inc’s holdings in FedEx were worth $4,446,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in FedEx by 11.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares in the last quarter. Western Wealth Management LLC grew its position in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after acquiring an additional 333 shares in the last quarter. Trust Point Inc. acquired a new position in shares of FedEx in the 4th quarter worth approximately $282,000. Planned Solutions Inc. acquired a new position in shares of FedEx in the 4th quarter worth approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 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 acquiring an additional 13,642 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

Shares of FedEx stock opened at $265.75 on Friday. The stock’s fifty day moving average is $262.17 and its 200-day moving average is $254.51. The firm has a market capitalization of $65.40 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. 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 Co. has a 12-month low of $213.80 and a 12-month high of $291.27.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.41 earnings per share. Equities analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.

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

FedEx Announces Dividend

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

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on 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 directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’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 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was 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 directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BNP Paribas reiterated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI raised their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus cut their price target on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price 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.