FedEx Co. (NYSE:FDX) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,867 shares of the shipping service provider’s stock after selling 154 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in FedEx were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Brown Advisory Inc. increased its stake in FedEx by 15.5% during the third quarter. Brown Advisory Inc. now owns 26,279 shares of the shipping service provider’s stock worth $6,962,000 after purchasing an additional 3,534 shares during the period. Lindbrook Capital LLC increased its stake in FedEx by 2.5% during the third quarter. Lindbrook Capital LLC now owns 1,913 shares of the shipping service provider’s stock worth $507,000 after purchasing an additional 46 shares during the period. Verdence Capital Advisors LLC increased its stake in FedEx by 5.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,394 shares of the shipping service provider’s stock worth $369,000 after purchasing an additional 75 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $35,254,000 after buying an additional 13,197 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of FedEx by 37.2% during the third quarter. Mackenzie Financial Corp now owns 137,602 shares of the shipping service provider’s stock worth $35,803,000 after buying an additional 37,338 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE FDX traded up $0.18 during mid-day trading on Monday, hitting $260.83. 510,962 shares of the company were exchanged, compared to its average volume of 1,950,526. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $264.27 and a 200-day simple moving average of $255.03. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The firm has a market cap of $64.19 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the company earned $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx announced that its board has approved a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

FedEx Dividend Announcement

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 $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

Insider Buying and Selling at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction 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 completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction 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 directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FDX. Bank of America cut their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. UBS Group upped their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Jefferies Financial Group upped their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Barclays upped their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.