FedEx Co. (NYSE:FDX) Shares Purchased by abrdn plc

abrdn plc lifted its stake in FedEx Co. (NYSE:FDX) by 29.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 191,132 shares of the shipping service provider’s stock after acquiring an additional 43,053 shares during the quarter. abrdn plc owned 0.08% of FedEx worth $48,351,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after acquiring an additional 13,197 shares during the last quarter. Western Wealth Management LLC lifted its holdings in FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares in the last quarter. Trust Point Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $282,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after buying an additional 13,642 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 1.4 %

Shares of FedEx stock opened at $266.99 on Monday. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $65.70 billion, a P/E ratio of 15.40, a PEG ratio of 1.26 and a beta of 1.21. The company’s fifty day moving average is $259.22 and its two-hundred day moving average is $254.10.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm posted $3.41 EPS. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock worth $37,758,773. Company insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Bank of America reduced their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Barclays increased their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Finally, Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Monday, January 8th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.