FedEx Co. (NYSE:FDX) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 100.0% in the 4th quarter, HoldingsChannel reports. The firm owned 7,000 shares of the shipping service provider’s stock after buying an additional 3,500 shares during the quarter. Wolverine Asset Management LLC’s holdings in FedEx were worth $1,771,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Financial Management Professionals Inc. lifted its position in shares of FedEx by 143.2% in 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. purchased a new position in FedEx in the 4th quarter valued at about $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx during the 4th quarter worth about $31,000. Planned Solutions Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $32,000. Finally, Valley National Advisers Inc. raised its position in shares of FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $266.10 on Thursday. FedEx Co. has a 52-week low of $213.80 and a 52-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 cap of $65.48 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21. The business’s 50 day moving average is $261.03 and its two-hundred day moving average is $254.36.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the firm earned $3.41 EPS. The company’s revenue was down 2.1% on a year-over-year basis. Analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 1.89%. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx announced that its Board of Directors has authorized a stock buyback plan 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 purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on the stock. Robert W. Baird lifted their target price on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus dropped their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Bank of America dropped their price objective on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. One 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s 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 transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at $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 over the last ninety days. 8.73% of the stock is owned by insiders.

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.