Cetera Trust Company N.A bought a new position in shares of FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,475 shares of the shipping service provider's stock, valued at approximately $2,397,000. FedEx makes up about 1.5% of Cetera Trust Company N.A's holdings, making the stock its 25th biggest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider's stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new position in FedEx in the fourth quarter valued at about $30,000. Tennessee Valley Asset Management Partners acquired a new position in FedEx in the fourth quarter valued at about $31,000. Planned Solutions Inc. acquired a new position in FedEx in the fourth quarter valued at about $32,000. Finally, Valley National Advisers Inc. raised its stake in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on FedEx from $315.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a "buy" rating on the stock in a research report on Tuesday, April 2nd. Melius Research upgraded FedEx from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research report on Monday, January 8th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their target price on FedEx from $291.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $301.33.
Check Out Our Latest Stock Report on FedEx
FedEx Trading Up 1.4 %
FDX traded up $3.62 during trading on Friday, hitting $266.99. The company's stock had a trading volume of 1,894,373 shares, compared to its average volume of 2,131,599. 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 Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The stock's fifty day moving average price is $259.22 and its 200-day moving average price is $254.10. The firm has a market capitalization of $65.70 billion, a P/E ratio of 15.40, a PEG ratio of 1.26 and a beta of 1.21.
FedEx (NYSE:FDX - Get Free Report) last issued its earnings results 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 return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the firm earned $3.41 earnings per share. FedEx's revenue for the quarter was down 2.1% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.89%. FedEx's dividend payout ratio (DPR) is currently 29.07%.
FedEx announced that its Board of Directors has initiated a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling
In related news, Chairman Frederick W. Smith sold 113,400 shares of the company's stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company's stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.
FedEx Profile
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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.
Further Reading
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