FedEx Co. (NYSE:FDX) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in FedEx Co. (NYSE:FDX) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,679 shares of the shipping service provider’s stock after acquiring an additional 637 shares during the period. First Trust Direct Indexing L.P.’s holdings in FedEx were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FDX. Brookstone Capital Management raised its position in FedEx by 9.3% in the third quarter. Brookstone Capital Management now owns 4,897 shares of the shipping service provider’s stock valued at $1,192,000 after purchasing an additional 415 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of FedEx by 26.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,216 shares of the shipping service provider’s stock valued at $13,833,000 after buying an additional 10,799 shares during the period. FinTrust Capital Advisors LLC raised its holdings in shares of FedEx by 19.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 754 shares of the shipping service provider’s stock valued at $200,000 after buying an additional 122 shares during the period. Raymond James & Associates raised its holdings in shares of FedEx by 17.3% in the 3rd quarter. Raymond James & Associates now owns 512,891 shares of the shipping service provider’s stock valued at $135,875,000 after buying an additional 75,732 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of FedEx by 12.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,057 shares of the shipping service provider’s stock valued at $3,459,000 after buying an additional 1,482 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the 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 transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated 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 directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred 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 transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FDX. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research report on Monday, January 8th. Evercore ISI upped their target price on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Stifel Nicolaus decreased their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, Barclays upped their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Up 0.3 %

NYSE:FDX traded up $0.72 during mid-day trading on Thursday, reaching $261.45. The stock had a trading volume of 98,263 shares, compared to its average volume of 1,963,491. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $263.57 and its two-hundred day simple moving average is $254.76. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a market capitalization of $64.34 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23.

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, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 EPS. Equities analysts anticipate that FedEx Co. will post 17.69 EPS for the current year.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend 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.