Enterprise Financial Services Corp Takes $208,000 Position in FedEx Co. (NYSE:FDX)

Enterprise Financial Services Corp acquired a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 821 shares of the shipping service provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. InterOcean Capital Group LLC grew its position in FedEx by 19.7% during the fourth quarter. InterOcean Capital Group LLC now owns 99,877 shares of the shipping service provider’s stock valued at $25,266,000 after acquiring an additional 16,418 shares during the period. Journey Strategic Wealth LLC purchased a new stake in FedEx during the fourth quarter valued at about $214,000. Franklin Resources Inc. boosted its position in shares of FedEx by 38.6% in the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after buying an additional 42,844 shares during the period. Brandes Investment Partners LP grew its stake in shares of FedEx by 12.7% in the fourth quarter. Brandes Investment Partners LP now owns 479,117 shares of the shipping service provider’s stock valued at $121,202,000 after buying an additional 53,874 shares in the last quarter. Finally, BNP Paribas Asset Management Holding S.A. grew its stake in shares of FedEx by 6.2% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 278,835 shares of the shipping service provider’s stock valued at $70,537,000 after buying an additional 16,208 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 1.9 %

Shares of FedEx stock traded down $4.90 during midday trading on Thursday, hitting $247.17. The company’s stock had a trading volume of 558,569 shares, compared to its average volume of 1,874,442. The firm has a market capitalization of $60.82 billion, a P/E ratio of 14.54, a PEG ratio of 1.05 and a beta of 1.23. The stock has a 50-day simple moving average of $267.06 and a 200-day simple moving average of $256.71. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate 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%. FedEx’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx declared that its board has approved a share repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on FDX. Evercore ISI increased their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. UBS Group reduced their price target on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. TD Cowen increased their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $301.07.

Insider Activity at FedEx

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 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 is available through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,668 shares of company stock valued at $37,758,773. Insiders own 8.73% of the company’s stock.

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.