Parsons Capital Management Inc. RI Acquires 216 Shares of FedEx Co. (NYSE:FDX)

Parsons Capital Management Inc. RI increased its holdings in shares of FedEx Co. (NYSE:FDXFree Report) by 11.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,059 shares of the shipping service provider’s stock after purchasing an additional 216 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in FedEx were worth $521,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the last quarter. Planned Solutions Inc. acquired a new position in FedEx during the 4th quarter worth approximately $32,000. Baystate Wealth Management LLC boosted its position in FedEx by 60.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 50 shares during the last quarter. RVW Wealth LLC acquired a new position in FedEx during the 3rd quarter worth approximately $40,000. Finally, Venturi Wealth Management LLC boosted its position in FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after acquiring an additional 45 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

Shares of NYSE FDX opened at $275.33 on Wednesday. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a market cap of $67.75 billion, a P/E ratio of 15.88, a PEG ratio of 1.37 and a beta of 1.21. The company has a 50 day moving average of $252.00 and a 200 day moving average of $253.00. 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 announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business earned $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx Announces Dividend

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

FedEx announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FDX has been the subject of several recent analyst reports. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. BNP Paribas reissued an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. Bank Of America (Bofa) increased their price objective on FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.85.

Check Out Our Latest Stock Analysis on FedEx

Insiders Place Their Bets

In other news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 19,393 shares of company stock valued at $5,581,475. Company insiders own 8.73% of the company’s stock.

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.

Featured Stories

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.