IVC Wealth Advisors LLC Acquires 134 Shares of FedEx Co. (NYSE:FDX)

IVC Wealth Advisors LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,933 shares of the shipping service provider’s stock after purchasing an additional 134 shares during the period. IVC Wealth Advisors LLC’s holdings in FedEx were worth $560,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its holdings in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in FedEx during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. lifted its holdings in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new position in FedEx during the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx during the 4th quarter valued at about $30,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Evercore ISI lowered their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Barclays raised their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.00.

Insiders Place Their Bets

In other FedEx 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 sale, the executive vice president now directly 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 accessible through this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the transaction, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,189 shares of company stock valued at $38,046,602. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Down 1.5 %

FDX traded down $4.54 during trading hours on Wednesday, hitting $293.68. 1,274,326 shares of the company’s stock were exchanged, compared to its average volume of 1,950,764. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The stock’s 50-day moving average is $259.20 and its two-hundred day moving average is $256.49. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.10 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the prior year, the company posted $4.94 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Sell-side analysts predict that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is 32.04%.

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