FedEx Co. (NYSE:FDX) Shares Acquired by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated increased its stake in FedEx Co. (NYSE:FDX) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,694 shares of the shipping service provider’s stock after purchasing an additional 288 shares during the period. Silver Oak Securities Incorporated’s holdings in FedEx were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Financial Management Professionals Inc. boosted its holdings in shares of 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 acquiring an additional 63 shares during the period. Rakuten Securities Inc. acquired a new position in FedEx during the 4th quarter valued at about $30,000. Tennessee Valley Asset Management Partners bought a new position in FedEx in the 4th quarter worth about $31,000. Planned Solutions Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. raised its holdings in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $265.86 on Tuesday. 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 1 year low of $213.80 and a 1 year high of $291.27. The company has a market cap of $65.42 billion, a PE ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. The stock’s 50-day moving average price is $262.74 and its two-hundred day moving average price is $254.58.

FedEx (NYSE:FDX) last released its quarterly earnings results 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. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the business earned $3.41 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 17.69 EPS for the current year.

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

FedEx Dividend Announcement

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

Insider Activity

In related news, VP Guy M. Erwin II sold 2,749 shares of the 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 of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Guy M. Erwin II sold 2,749 shares of the company’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 transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America decreased their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. The Goldman Sachs Group upped their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Monday, January 8th. BMO Capital Markets upped their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Barclays raised their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $301.33.

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.