FedEx Co. (NYSE:FDX) Shares Purchased by Investment House LLC

Investment House LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,775 shares of the shipping service provider’s stock after purchasing an additional 6,005 shares during the quarter. Investment House LLC’s holdings in FedEx were worth $10,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after acquiring an additional 13,197 shares during the period. Western Wealth Management LLC raised its stake in shares of FedEx by 10.0% during the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. bought a new stake in shares of FedEx during the fourth quarter valued at about $282,000. Planned Solutions Inc. bought a new stake in FedEx in the fourth quarter worth about $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in FedEx by 2.3% in the third 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.

Insider Activity

In other news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on 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 owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FDX shares. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Morgan Stanley lifted their target price on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Jefferies Financial Group lifted their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Finally, UBS Group lifted their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Price Performance

NYSE:FDX traded up $0.49 during trading hours on Monday, reaching $266.33. The company had a trading volume of 368,568 shares, compared to its average volume of 2,007,810. The stock has a 50-day moving average of $262.17 and a two-hundred day moving average of $254.48. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The firm has a market capitalization of $65.54 billion, a PE ratio of 15.33, a PEG 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 (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx announced that its Board of Directors has initiated a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is 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 issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.