FedEx Co. (NYSE:FDX) Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 49.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,756 shares of the shipping service provider’s stock after selling 2,728 shares during the quarter. Machina Capital S.A.S.’s holdings in FedEx were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Western Wealth Management LLC increased its stake in shares of FedEx by 10.0% in the fourth 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 during the period. Trust Point Inc. purchased a new position in shares of FedEx during the fourth quarter worth $282,000. Planned Solutions Inc. purchased a new position in shares of FedEx during the fourth quarter worth $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in FedEx by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after purchasing an additional 13,642 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FDX. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Barclays increased their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. TD Cowen increased their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group increased their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. 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 MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Down 0.1 %

Shares of FDX stock traded down $0.36 during trading hours on Monday, hitting $260.29. The company had a trading volume of 928,126 shares, compared to its average volume of 1,955,771. 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 has a market capitalization of $64.05 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. The company’s fifty day moving average is $264.65 and its 200 day moving average is $255.15. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. Research analysts expect that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.94%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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

Insiders Place Their Bets

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s 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 owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

FedEx Company 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.