Napatree Capital LLC Buys Shares of 3,098 FedEx Co. (NYSE:FDX)

Napatree Capital LLC acquired a new position in FedEx Co. (NYSE:FDXFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,098 shares of the shipping service provider’s stock, valued at approximately $784,000.

Several other hedge funds have also recently bought and sold shares of FDX. Sentry LLC bought a new position in shares of FedEx in the fourth quarter worth $1,811,748,000. Norges Bank bought a new position in FedEx in the 4th quarter valued at about $700,291,000. FMR LLC increased its stake in FedEx by 29.1% during the 3rd 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. Capital International Investors increased its stake in FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after buying an additional 880,894 shares during the period. Finally, Putnam Investments LLC raised its position in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was 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 owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock valued at $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

FDX opened at $251.60 on Tuesday. The stock has a fifty day moving average price of $258.19 and a 200 day moving average price of $256.34. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a 1 year low of $223.24 and a 1 year high of $291.27. The stock has a market cap of $61.91 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.89 and a beta of 1.16.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.41 EPS. Analysts forecast that FedEx Co. will post 17.76 EPS for the current fiscal year.

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

FedEx Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their price target on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Evercore ISI lifted their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Bank of America dropped their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $301.92.

Read Our Latest Stock Report on FedEx

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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