NewEdge Wealth LLC Acquires 561 Shares of FedEx Co. (NYSE:FDX)

NewEdge Wealth LLC grew its holdings in FedEx Co. (NYSE:FDX) by 24.8% during the 4th quarter, Holdings Channel reports. The fund owned 2,827 shares of the shipping service provider’s stock after buying an additional 561 shares during the period. NewEdge Wealth LLC’s holdings in FedEx were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after purchasing an additional 59,161 shares during the period. FMR LLC raised its position in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the period. Morgan Stanley raised its position in shares of FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after purchasing an additional 559,607 shares during the period. Invesco Ltd. raised its position in shares of FedEx by 13.6% during the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after purchasing an additional 360,680 shares during the period. Finally, Northern Trust Corp raised its position in shares of FedEx by 2.6% during the 3rd quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock valued at $624,180,000 after purchasing an additional 60,201 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx 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 value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred 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 directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last three months. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on FDX shares. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. UBS Group boosted their price target 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. BNP Paribas reiterated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Jefferies Financial Group boosted their price target 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. Finally, Raymond James decreased their price target on shares of FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Stock Performance

Shares of NYSE:FDX opened at $264.86 on Wednesday. The company has a market capitalization of $65.18 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.26 and a beta of 1.21. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The firm’s 50-day moving average is $257.89 and its 200 day moving average is $254.05. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.41 EPS. Research analysts predict that FedEx Co. will post 17.67 EPS for the current year.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 annualized dividend and a yield of 1.90%. FedEx’s dividend payout ratio (DPR) is 29.07%.

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.