EFG Asset Management North America Corp. Boosts Holdings in FedEx Co. (NYSE:FDX)

EFG Asset Management North America Corp. lifted its stake in FedEx Co. (NYSE:FDX - Free Report) by 173.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,620 shares of the shipping service provider's stock after buying an additional 4,831 shares during the period. EFG Asset Management North America Corp.'s holdings in FedEx were worth $1,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP increased its stake in FedEx by 2.9% in the third quarter. Allworth Financial LP now owns 7,956 shares of the shipping service provider's stock valued at $2,108,000 after purchasing an additional 224 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of FedEx by 63.4% in the third quarter. Teacher Retirement System of Texas now owns 84,260 shares of the shipping service provider's stock valued at $22,322,000 after acquiring an additional 32,689 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of FedEx by 5.2% in the third quarter. 180 Wealth Advisors LLC now owns 1,501 shares of the shipping service provider's stock valued at $398,000 after acquiring an additional 74 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of FedEx by 133.6% in the third quarter. Orion Portfolio Solutions LLC now owns 11,422 shares of the shipping service provider's stock valued at $3,026,000 after acquiring an additional 6,533 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of FedEx by 6.2% in the third quarter. New Mexico Educational Retirement Board now owns 11,986 shares of the shipping service provider's stock valued at $3,175,000 after acquiring an additional 700 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.2 %

FDX stock traded down $0.54 on Thursday, hitting $258.78. 1,135,779 shares of the company were exchanged, compared to its average volume of 1,914,010. The stock has a market capitalization of $63.68 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. The business's fifty day moving average is $266.76 and its two-hundred day moving average is $256.29. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the prior year, the firm posted $3.41 EPS. The firm's revenue was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that FedEx Co. will post 17.7 earnings per share for the current year.

FedEx announced that its board has authorized a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

FedEx Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.95%. FedEx's dividend payout ratio (DPR) is 29.07%.

Insider Buying and Selling at FedEx

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the sale, the vice president now directly owns 486 shares of the company's stock, valued at $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, 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 can be accessed through this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last ninety days. 8.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FDX shares. TD Cowen boosted their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Stifel Nicolaus decreased their price objective on shares of FedEx from $306.00 to $303.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a "hold" rating in a report on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an "equal weight" rating in a report on Friday, March 22nd. Finally, Bank of America decreased their price objective on shares of FedEx from $346.00 to $340.00 and set a "buy" rating on the stock in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $301.33.

FedEx Profile

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.

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