FedEx Co. (NYSE:FDX) Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDXFree Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,163 shares of the shipping service provider’s stock after selling 129 shares during the period. RFG Advisory LLC’s holdings in FedEx were worth $337,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $25,000. Fortis Group Advisors LLC boosted its holdings in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Financial Management Professionals Inc. grew its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new position in FedEx in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx in the fourth quarter worth about $30,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 0.0 %

Shares of NYSE FDX opened at $256.46 on Wednesday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $291.27. The company has a market capitalization of $63.11 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.92 and a beta of 1.16. The company has a 50 day simple moving average of $256.13 and a 200-day simple moving average of $255.72. 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 earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the firm earned $4.94 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx announced that its board has initiated a share buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 2.15%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated 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 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. Insiders sold a total of 127,774 shares of company stock valued at $35,194,126 over the last 90 days. 8.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FDX shares. Jefferies Financial Group lifted their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Robert W. Baird increased their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. UBS Group decreased their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.88.

Read Our Latest Research Report on FDX

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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