FedEx Co. (NYSE:FDX) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC increased its position in FedEx Co. (NYSE:FDX) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,001 shares of the shipping service provider’s stock after buying an additional 214 shares during the quarter. Alpha Cubed Investments LLC’s holdings in FedEx were worth $253,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FDX. KRS Capital Management LLC raised its holdings in shares of FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. raised its stake in FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares in the last quarter. SVB Wealth LLC boosted its position in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after buying an additional 45 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx 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 sale, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated 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 owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FDX. The Goldman Sachs Group increased their price objective on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays increased their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Monday, January 8th. Morgan Stanley lifted their price objective on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets upped their target price on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

NYSE FDX opened at $260.75 on Thursday. The stock has a 50-day simple moving average of $263.57 and a 200 day simple moving average of $254.76. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The stock has a market capitalization of $64.17 billion, a PE ratio of 15.04, a P/E/G ratio of 1.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

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 analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.41 earnings per share. Research analysts anticipate that FedEx Co. will post 17.69 EPS for the current year.

FedEx announced that its board has authorized a share repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.93%. FedEx’s dividend 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.