Charles Schwab Investment Management Inc. Increases Stake in FedEx Co. (NYSE:FDX)

Charles Schwab Investment Management Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,401,372 shares of the shipping service provider’s stock after buying an additional 12,489 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of FedEx worth $354,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Management Professionals Inc. lifted its holdings in FedEx by 143.2% in 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. purchased a new position in shares of FedEx in the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx during the 4th quarter valued at about $31,000. Planned Solutions Inc. bought a new position in FedEx during the fourth quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. increased its position in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 1.1 %

Shares of FedEx stock traded down $2.87 during trading on Wednesday, hitting $256.60. 581,082 shares of the stock were exchanged, compared to its average volume of 1,933,595. The stock has a market cap of $63.14 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. The firm’s 50-day moving average price is $265.01 and its 200 day moving average price is $255.28. 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 Co. has a 12-month low of $213.80 and a 12-month high of $291.27.

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

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors 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 dividend on an annualized basis and a yield of 1.96%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insiders Place Their Bets

In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was 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 of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FDX shares. TD Cowen raised their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Evercore ISI increased their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Barclays raised their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. BNP Paribas reissued an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Finally, Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $301.33.

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.