FedEx Co. (NYSE:FDX) Shares Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,001 shares of the shipping service provider’s stock after acquiring an additional 214 shares during the quarter. Alpha Cubed Investments LLC’s holdings in FedEx were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FDX. Brighton Jones LLC raised its holdings in FedEx by 5.5% in the fourth quarter. Brighton Jones LLC now owns 1,791 shares of the shipping service provider’s stock valued at $453,000 after acquiring an additional 94 shares in the last quarter. Mission Wealth Management LP increased its position in shares of FedEx by 3.9% in the 4th quarter. Mission Wealth Management LP now owns 3,777 shares of the shipping service provider’s stock valued at $956,000 after purchasing an additional 143 shares during the last quarter. Certuity LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $340,000. Skylands Capital LLC lifted its position in shares of FedEx by 56.7% during the 4th quarter. Skylands Capital LLC now owns 6,975 shares of the shipping service provider’s stock worth $1,764,000 after purchasing an additional 2,525 shares during the last quarter. Finally, Investment House LLC grew its stake in shares of FedEx by 16.8% during the fourth quarter. Investment House LLC now owns 41,775 shares of the shipping service provider’s stock worth $10,568,000 after purchasing an additional 6,005 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred 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 in the company, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were 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 have sold 136,668 shares of company stock worth $37,758,773 over the last ninety days. 8.73% of the stock is currently owned by insiders.

FedEx Stock Performance

FDX opened at $260.75 on Thursday. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The stock has a market cap of $64.17 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.23 and a beta of 1.23. The stock’s 50 day simple moving average is $263.57 and its 200 day simple moving average is $254.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate 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 was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.41 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 17.69 EPS for the current fiscal year.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FDX shares. Bank of America cut their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Morgan Stanley raised their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Finally, BNP Paribas restated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.