Roffman Miller Associates Inc. PA Lowers Holdings in FedEx Co. (NYSE:FDX)

Roffman Miller Associates Inc. PA reduced its stake in shares of FedEx Co. (NYSE:FDX) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 84,774 shares of the shipping service provider’s stock after selling 6,726 shares during the period. FedEx accounts for 1.5% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 26th largest position. Roffman Miller Associates Inc. PA’s holdings in FedEx were worth $21,445,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FDX. Tokio Marine Asset Management Co. Ltd. raised its position in shares of FedEx by 5.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,608 shares of the shipping service provider’s stock worth $1,419,000 after buying an additional 301 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of FedEx by 2.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,242 shares of the shipping service provider’s stock worth $3,615,000 after purchasing an additional 373 shares during the period. Carret Asset Management LLC increased its position in FedEx by 2.8% during the 4th quarter. Carret Asset Management LLC now owns 28,641 shares of the shipping service provider’s stock worth $7,245,000 after purchasing an additional 787 shares in the last quarter. Wynn Capital LLC purchased a new position in FedEx in the fourth quarter valued at approximately $1,774,000. Finally, Wolverine Asset Management LLC lifted its position in FedEx by 100.0% during the fourth quarter. Wolverine Asset Management LLC now owns 7,000 shares of the shipping service provider’s stock valued at $1,771,000 after buying an additional 3,500 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Bank of America lowered their price target on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price target on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

FedEx Price Performance

NYSE FDX traded up $1.58 on Friday, reaching $267.10. 512,681 shares of the stock traded hands, compared to its average volume of 2,022,426. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The company has a market cap of $65.73 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.26 and a beta of 1.21. The firm’s fifty day simple moving average is $261.61 and its 200 day simple moving average is $254.44. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. As a group, research analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.