FedEx Co. (NYSE:FDX) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,867 shares of the shipping service provider’s stock after selling 154 shares during the period. TCI Wealth Advisors Inc.’s holdings in FedEx were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FDX. Sheets Smith Wealth Management acquired a new stake in shares of FedEx in the fourth quarter valued at $5,963,000. Clearstead Trust LLC acquired a new stake in FedEx in the 4th quarter valued at about $634,000. NavPoint Financial Inc. bought a new position in shares of FedEx during the 4th quarter valued at about $236,000. Avidian Wealth Solutions LLC grew its stake in shares of FedEx by 7.8% in the 4th quarter. Avidian Wealth Solutions LLC now owns 1,773 shares of the shipping service provider’s stock worth $449,000 after purchasing an additional 129 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of FedEx by 9.0% in the 4th quarter. National Bank of Canada FI now owns 164,727 shares of the shipping service provider’s stock worth $41,541,000 after purchasing an additional 13,628 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction 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 a total of 136,668 shares of company stock worth $37,758,773 over the last 90 days. Insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Stifel Nicolaus reduced their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Evercore ISI lifted their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Barclays boosted their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. 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 an average target price of $301.33.

FedEx Stock Up 0.1 %

NYSE FDX traded up $0.18 during trading on Monday, reaching $260.83. The company’s stock had a trading volume of 510,962 shares, compared to its average volume of 1,950,526. The business has a 50-day moving average price of $264.27 and a 200-day moving average price of $255.03. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The stock has a market capitalization of $64.19 billion, a PE ratio of 15.07, a PEG ratio of 1.23 and a beta of 1.23. 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 (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. On average, research analysts forecast that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. FedEx’s payout ratio is currently 29.07%.

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.