Sequoia Financial Advisors LLC Increases Holdings in FedEx Corporation $FDX

Key Points

• Sequoia Financial Advisors boosted its FedEx stake by 35.4% in the fourth quarter, ending with 14,228 shares worth about $4.11 million.
• Several other institutional investors also increased or initiated positions in FedEx, and hedge funds and other institutions now own 84.47% of the company.
• FedEx reported strong quarterly results, with EPS of $5.25 beating estimates and revenue of $24 billion topping forecasts; analysts currently rate the stock a Moderate Buy with a consensus price target of $398.04.

Sequoia Financial Advisors LLC raised its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,228 shares of the shipping service provider's stock after acquiring an additional 3,723 shares during the quarter. Sequoia Financial Advisors LLC's holdings in FedEx were worth $4,110,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares during the last quarter. Boston Partners purchased a new position in FedEx in the third quarter valued at approximately $468,195,000. Dodge & Cox raised its holdings in FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. AQR Capital Management LLC raised its holdings in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after purchasing an additional 1,718,278 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of FedEx during the 3rd quarter worth approximately $171,960,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares of the company's stock, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last quarter. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FDX shares. HSBC raised shares of FedEx from a "reduce" rating to a "hold" rating and set a $360.00 target price on the stock in a research report on Friday, March 20th. Wall Street Zen cut shares of FedEx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 12th. The Goldman Sachs Group upped their price objective on shares of FedEx from $364.00 to $369.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Zacks Research lowered FedEx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 18th. Finally, Bank of America lifted their target price on FedEx from $431.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.04.

FedEx Stock Up 0.6%

FDX stock opened at $378.30 on Friday. The company has a market cap of $90.27 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. The company has a fifty day moving average price of $370.10 and a 200 day moving average price of $323.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts' consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the previous year, the business posted $4.51 earnings per share. FedEx's quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.5%. FedEx's dividend payout ratio is currently 30.87%.

FedEx Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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