Markel Group Inc. raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,500 shares of the shipping service provider's stock after purchasing an additional 11,500 shares during the period. Markel Group Inc. owned 0.06% of FedEx worth $39,590,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider's stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of FedEx during the fourth quarter valued at $31,000. Planned Solutions Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $32,000. Finally, Valley National Advisers Inc. raised its stake in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider's stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Trading Up 0.1 %
Shares of NYSE FDX traded up $0.23 during trading on Friday, hitting $265.75. 958,869 shares of the company were exchanged, compared to its average volume of 2,028,195. The company has a fifty day moving average price of $262.17 and a 200-day moving average price of $254.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market capitalization of $65.40 billion, a PE ratio of 15.33, a P/E/G ratio of 1.26 and a beta of 1.21. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion during the quarter, compared to analysts' expectations of $21.95 billion. During the same period last year, the business earned $3.41 earnings per share. FedEx's revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 17.67 EPS for the current year.
FedEx Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid 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 1.90%. FedEx's dividend payout ratio (DPR) is 29.07%.
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 shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on FDX shares. Jefferies Financial Group boosted their price target on FedEx from $265.00 to $300.00 and gave the company a "hold" rating in a research note on Friday, March 22nd. UBS Group raised their price target on shares of FedEx from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. StockNews.com downgraded shares of FedEx from a "strong-buy" rating to a "buy" rating in a report on Sunday, February 11th. Evercore ISI increased their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. Finally, Barclays boosted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $301.33.
Get Our Latest Stock Report on FDX
Insider Buying and Selling at FedEx
In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company's stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares of the company's stock, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company's stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 over the last quarter. 8.73% of the stock is currently owned by company 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
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX - Free Report).
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