Sei Investments Co. Acquires 31,024 Shares of FedEx Co. (NYSE:FDX)

Sei Investments Co. raised its holdings in FedEx Co. (NYSE:FDXFree Report) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,123 shares of the shipping service provider’s stock after buying an additional 31,024 shares during the quarter. Sei Investments Co. owned about 0.08% of FedEx worth $51,636,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in 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. Sentry LLC purchased a new position in shares of FedEx during the fourth quarter valued at about $1,811,748,000. Capital International Investors raised its stake in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after buying an additional 880,894 shares in the last quarter. FMR LLC lifted its holdings in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after buying an additional 916,555 shares during the period. Finally, Morgan Stanley boosted its position in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after acquiring an additional 35,085 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $253.70 on Tuesday. The firm has a market capitalization of $62.43 billion, a PE ratio of 14.63, a P/E/G ratio of 0.90 and a beta of 1.16. The company has a 50 day moving average price of $260.83 and a 200-day moving average price of $256.56. FedEx Co. has a 52 week low of $222.01 and a 52 week high of $291.27. 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 (NYSE:FDXGet Free Report) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 EPS. As a group, equities research analysts expect that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx Increases Dividend

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

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

Analyst Ratings Changes

Several research analysts have recently issued reports on FDX shares. BNP Paribas reissued an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Jefferies Financial Group raised their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. TD Cowen upped their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Bank of America decreased their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, Morgan Stanley boosted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $301.92.

Read Our Latest Analysis on FDX

Insider Activity

In related news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value 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. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last quarter. 8.73% of the stock is currently owned by insiders.

FedEx Profile

(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.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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