First Trust Advisors LP Sells 11,623 Shares of FedEx Co. (NYSE:FDX)

First Trust Advisors LP reduced its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 101,177 shares of the shipping service provider’s stock after selling 11,623 shares during the period. First Trust Advisors LP’s holdings in FedEx were worth $25,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Western Wealth Management LLC boosted its holdings in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. purchased a new stake in FedEx in the fourth quarter worth approximately $282,000. Planned Solutions Inc. bought a new position in FedEx during the fourth quarter valued at approximately $32,000. Skba Capital Management LLC raised its stake in shares of FedEx by 0.3% during the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after acquiring an additional 100 shares in the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of FedEx by 173.2% in the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after acquiring an additional 4,831 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. Barclays increased their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Stifel Nicolaus lowered their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. BMO Capital Markets raised their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, The Goldman Sachs Group raised their target price on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.92.

View Our Latest Stock Analysis on FedEx

FedEx Trading Up 2.4 %

NYSE:FDX opened at $253.70 on Tuesday. FedEx Co. has a one year low of $222.01 and a one year high of $291.27. The company’s 50-day simple moving average is $260.83 and its 200 day simple moving average is $256.56. The firm has a market capitalization of $62.43 billion, a P/E ratio of 14.63, a PEG ratio of 0.90 and a beta of 1.16. 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 (NYSE:FDXGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the company earned $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.18%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 29.07%.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a legal 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 transaction of $31,105,620.00. Following the sale, 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. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

About FedEx

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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