Sanders Morris Harris LLC Buys 500 Shares of FedEx Co. (NYSE:FDX)

Sanders Morris Harris LLC grew its stake in FedEx Co. (NYSE:FDXFree Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,700 shares of the shipping service provider’s stock after acquiring an additional 500 shares during the period. Sanders Morris Harris LLC’s holdings in FedEx were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC raised its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of FedEx in the fourth quarter worth about $25,000. Financial Management Professionals Inc. grew its position in shares of 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 buying an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $30,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.5 %

Shares of FedEx stock traded up $1.14 on Friday, hitting $253.66. The company had a trading volume of 3,145,207 shares, compared to its average volume of 1,151,497. The firm has a market capitalization of $62.42 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.16. FedEx Co. has a twelve month low of $224.40 and a twelve month high of $291.27. 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 stock has a 50-day moving average of $256.50 and a 200-day moving average of $255.99.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings data 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. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 earnings per share. Research analysts predict that FedEx Co. will post 17.76 earnings per share for the current year.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 29.07%.

Insider Transactions at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were 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 of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were 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 owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last 90 days. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FDX. The Goldman Sachs Group lifted their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Jefferies Financial Group lifted their price target on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Bank of America lowered their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets boosted 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, Evercore ISI boosted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $304.21.

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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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