Tennessee Valley Asset Management Partners Invests $31,000 in FedEx Co. (NYSE:FDX)

Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 121 shares of the shipping service provider’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. boosted its position in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Planned Solutions Inc. acquired a new position in shares of FedEx during the fourth quarter worth approximately $32,000. Valley National Advisers Inc. boosted its position in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the period. Venturi Wealth Management LLC raised its holdings in FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares in the last quarter. Finally, Briaud Financial Planning Inc bought a new stake in FedEx during the third quarter worth approximately $40,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. The Goldman Sachs Group boosted their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. TD Cowen boosted 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. BNP Paribas reissued an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Finally, Robert W. Baird boosted their target price on 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 assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Up 0.6 %

FedEx stock opened at $271.67 on Wednesday. The company’s fifty day simple moving average is $260.44 and its 200-day simple moving average is $254.28. 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 12 month low of $213.80 and a 12 month high of $291.27. The stock has a market cap of $66.85 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating 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 business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the company posted $3.41 EPS. FedEx’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

FedEx declared that its board has authorized a share buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, 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 $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

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.