FAS Wealth Partners Inc. Invests $216,000 in FedEx Co. (NYSE:FDX)

FAS Wealth Partners Inc. purchased a new stake in shares of FedEx Co. (NYSE:FDXFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 853 shares of the shipping service provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Norges Bank acquired a new stake in FedEx during the fourth quarter valued at $388,787,000. Mizuho Markets Americas LLC acquired a new stake in FedEx during the third quarter valued at $496,611,000. FMR LLC grew its position in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the period. Marshall Wace LLP grew its position in FedEx by 2,602.9% during the second quarter. Marshall Wace LLP now owns 608,210 shares of the shipping service provider’s stock valued at $150,775,000 after buying an additional 632,510 shares during the period. Finally, Ameriprise Financial Inc. grew its position in FedEx by 144.4% during the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after buying an additional 595,628 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark R. Allen sold 10,145 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The disclosure for this sale can be found here. Insiders sold a total of 19,393 shares of company stock worth $5,581,475 over the last three months. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Evercore ISI increased their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. BMO Capital Markets increased their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $300.85.

Check Out Our Latest Stock Report on FedEx

FedEx Price Performance

Shares of FDX stock opened at $275.33 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s 50-day moving average is $252.00 and its two-hundred day moving average is $253.00. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The company has a market capitalization of $67.75 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

FedEx (NYSE:FDXGet Free Report) last issued 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. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. FedEx’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts predict that FedEx Co. will post 17.6 earnings per share for the current year.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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