Wells Fargo & Company MN Raises Stock Position in FedEx Co. (NYSE:FDX)

Wells Fargo & Company MN lifted its position in FedEx Co. (NYSE:FDX) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 630,171 shares of the shipping service provider’s stock after buying an additional 17,491 shares during the period. Wells Fargo & Company MN owned approximately 0.25% of FedEx worth $159,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC grew its position in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares during the last quarter. Trust Point Inc. purchased a new stake in FedEx during the 4th quarter worth approximately $282,000. Planned Solutions Inc. purchased a new stake in FedEx during the 4th quarter worth approximately $32,000. Skba Capital Management LLC grew its position in FedEx by 0.3% during the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after purchasing an additional 100 shares during the last quarter. Finally, EFG Asset Management North America Corp. grew its position in FedEx by 173.2% during the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after purchasing an additional 4,831 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’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 sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. Bank of America dropped their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Barclays boosted 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. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. UBS Group decreased their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.07.

FedEx Price Performance

Shares of NYSE FDX opened at $252.33 on Wednesday. The firm has a market cap of $62.09 billion, a PE ratio of 14.55, a PEG ratio of 1.20 and a beta of 1.23. The firm has a fifty day moving average of $267.12 and a 200 day moving average of $256.74. 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 Co. has a one year low of $213.80 and a one year high of $291.27.

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 company 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%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 EPS. As a group, research analysts predict that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx announced that its board has initiated a share buyback 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 reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

About FedEx

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.