FedEx Co. (NYSE:FDX) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC boosted its position in FedEx Co. (NYSE:FDX - Free Report) by 572.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,463 shares of the shipping service provider's stock after purchasing an additional 65,942 shares during the quarter. RWA Wealth Partners LLC's holdings in FedEx were worth $19,596,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its holdings in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider's stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of FedEx during the fourth quarter valued at $30,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx during the fourth quarter valued at $31,000. Planned Solutions Inc. bought a new position in shares of FedEx during the fourth quarter valued at $32,000. Finally, Valley National Advisers Inc. increased its holdings in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 11,147 shares of the company's stock, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the business'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 owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the business's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares of the company's stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FDX. BNP Paribas restated an "underperform" rating and set a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. BMO Capital Markets raised their price target on FedEx from $290.00 to $310.00 and gave the company a "market perform" rating in a report on Friday, March 22nd. Bank of America dropped their price objective on FedEx from $346.00 to $340.00 and set a "buy" rating on the stock in a research report on Tuesday, April 2nd. Stifel Nicolaus dropped their price objective on FedEx from $306.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. Finally, Melius Research raised FedEx from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $301.33.

FedEx Price Performance

FDX traded up $3.16 on Monday, hitting $270.15. 1,232,902 shares of the company's stock traded hands, compared to its average volume of 2,072,280. The company's 50 day simple moving average is $259.22 and its 200-day simple moving average is $254.10. The firm has a market cap of $66.48 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.26 and a beta of 1.21. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. 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 (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $21.95 billion. During the same quarter last year, the company earned $3.41 EPS. The firm's quarterly revenue was down 2.1% on a year-over-year basis. As a group, research analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its board has approved a stock buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, March 8th. FedEx's dividend payout ratio is currently 29.07%.

About FedEx

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.