Raymond James Financial Services Advisors Inc. lessened its position in FedEx Co. (NYSE:FDX - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,372 shares of the shipping service provider's stock after selling 4,532 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in FedEx were worth $27,054,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Confluence Wealth Services Inc. grew its stake in FedEx by 6.9% during the first quarter. Confluence Wealth Services Inc. now owns 2,852 shares of the shipping service provider's stock worth $826,000 after buying an additional 185 shares during the last quarter. Byrne Asset Management LLC bought a new stake in FedEx during the 1st quarter worth approximately $145,000. PFG Investments LLC increased its holdings in FedEx by 157.5% during the 1st quarter. PFG Investments LLC now owns 8,550 shares of the shipping service provider's stock valued at $2,477,000 after purchasing an additional 5,229 shares in the last quarter. Donaldson Capital Management LLC bought a new position in FedEx in the 1st quarter valued at $215,000. Finally, Mezzasalma Advisors LLC bought a new position in FedEx in the 1st quarter valued at $217,000. Institutional investors own 84.47% of the company's stock.
Insider Activity
In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm's stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Mark R. Allen sold 10,145 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now owns 36,853 shares of the company's stock, valued at $10,587,129.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.
FedEx Trading Down 0.4 %
FedEx stock traded down $1.03 during mid-day trading on Wednesday, hitting $260.75. 901,035 shares of the company's stock were exchanged, compared to its average volume of 1,986,029. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $64.17 billion, a P/E ratio of 15.04, a PEG ratio of 1.25 and a beta of 1.21. The company's 50 day simple moving average is $263.57 and its 200-day simple moving average is $254.76.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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. 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 quarter last year, the firm posted $3.41 earnings per share. FedEx's revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.
FedEx declared that its board has initiated a share repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.
FedEx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx's dividend payout ratio (DPR) is presently 29.07%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Bank of America lowered their target price on FedEx from $346.00 to $340.00 and set a "buy" rating for the company in a research note on Tuesday, April 2nd. Morgan Stanley boosted their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, March 22nd. StockNews.com cut shares of FedEx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 11th. The Goldman Sachs Group boosted their price objective 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. Finally, Jefferies Financial Group lifted their target price on FedEx from $265.00 to $300.00 and gave the company a "hold" rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $301.33.
Read Our Latest Stock Analysis on FedEx
FedEx 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.
Further Reading
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