Foster & Motley Inc. Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Foster & Motley Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,374 shares of the shipping service provider’s stock after selling 52 shares during the quarter. Foster & Motley Inc.’s holdings in FedEx were worth $854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC boosted its stake in shares of FedEx by 20.8% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,344 shares of the shipping service provider’s stock worth $356,000 after acquiring an additional 231 shares during the last quarter. Cedar Brook Financial Partners LLC purchased a new position in FedEx during the third quarter valued at $319,000. CreativeOne Wealth LLC grew its holdings in FedEx by 311.2% during the third quarter. CreativeOne Wealth LLC now owns 8,071 shares of the shipping service provider’s stock valued at $2,138,000 after purchasing an additional 6,108 shares during the period. Exchange Traded Concepts LLC increased its position in FedEx by 141,685.0% in the third quarter. Exchange Traded Concepts LLC now owns 28,357 shares of the shipping service provider’s stock worth $7,512,000 after buying an additional 28,337 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of FedEx by 6.3% in the third quarter. Private Trust Co. NA now owns 2,505 shares of the shipping service provider’s stock worth $664,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the company’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 completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred 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 transaction, 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 SEC, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 354 shares of the company’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 sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last quarter. 8.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on FDX shares. Evercore ISI lifted their price target on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Robert W. Baird lifted their target price on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Barclays raised their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets lifted their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Trading Up 0.6 %

Shares of FDX opened at $271.67 on Wednesday. The company’s fifty day simple moving average is $260.44 and its 200-day simple moving average is $254.28. The company has a market cap of $66.85 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.27 and a beta of 1.21. 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 Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 net margin of 5.02% and a return on equity of 16.60%. 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 company posted $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx announced that its Board of Directors has authorized a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.86%. FedEx’s payout ratio is 29.07%.

FedEx Company 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.