Breakwater Capital Group Buys 66 Shares of FedEx Co. (NYSE:FDX)

Breakwater Capital Group grew its position in shares of FedEx Co. (NYSE:FDXFree Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 925 shares of the shipping service provider’s stock after acquiring an additional 66 shares during the quarter. Breakwater Capital Group’s holdings in FedEx were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. KRS Capital Management LLC lifted its position in shares of FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Zullo Investment Group Inc. raised its stake in shares of FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares during the last quarter. SVB Wealth LLC grew its position in FedEx by 2.5% during the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares during the period. Finally, Integrated Investment Consultants LLC increased its holdings in FedEx by 2.7% during the fourth quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock worth $437,000 after buying an additional 46 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. TD Cowen upped their target price on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Stephens reiterated an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

View Our Latest Analysis on FDX

FedEx Trading Up 1.5 %

Shares of FDX opened at $299.84 on Monday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $258.10 and its 200-day moving average price is $256.24. The firm has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.94 EPS. Sell-side analysts anticipate that FedEx Co. will post 20.67 EPS for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is 32.04%.

FedEx announced that its board has approved a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 119,810 shares of company stock valued at $32,924,413 in the last three months. 8.73% of the stock is currently owned by company insiders.

FedEx Company 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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