Silver Oak Securities Incorporated Acquires 288 Shares of FedEx Co. (NYSE:FDX)

Silver Oak Securities Incorporated lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,694 shares of the shipping service provider’s stock after acquiring an additional 288 shares during the quarter. Silver Oak Securities Incorporated’s holdings in FedEx were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bfsg LLC bought a new position in shares of FedEx in the third quarter valued at about $246,000. Brookstone Capital Management grew its position in shares of FedEx by 9.3% in the third quarter. Brookstone Capital Management now owns 4,897 shares of the shipping service provider’s stock valued at $1,192,000 after purchasing an additional 415 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of FedEx by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 161,767 shares of the shipping service provider’s stock valued at $42,855,000 after purchasing an additional 4,229 shares during the last quarter. Edmp Inc. increased its stake in shares of FedEx by 6.7% during the third quarter. Edmp Inc. now owns 5,098 shares of the shipping service provider’s stock worth $1,350,000 after purchasing an additional 321 shares during the period. Finally, Barrett & Company Inc. boosted its stake in FedEx by 16.3% in the 3rd quarter. Barrett & Company Inc. now owns 470 shares of the shipping service provider’s stock valued at $124,000 after purchasing an additional 66 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group increased their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Evercore ISI raised their price target on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. UBS Group boosted their price objective on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Finally, Stifel Nicolaus dropped their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. One 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. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Price Performance

Shares of NYSE FDX opened at $265.86 on Tuesday. The company has a market capitalization of $65.42 billion, a PE ratio of 15.33, a P/E/G ratio of 1.25 and a beta of 1.21. 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 Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a fifty day simple moving average of $262.74 and a 200 day simple moving average of $254.58.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (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 firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business earned $3.41 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

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

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated 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 directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

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.