FedEx Co. (NYSE:FDX) Stock Position Raised by Team Hewins LLC

Team Hewins LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 972 shares of the shipping service provider’s stock after buying an additional 45 shares during the period. Team Hewins LLC’s holdings in FedEx were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Csenge Advisory Group raised its holdings in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares in the last quarter. Wittenberg Investment Management Inc. acquired a new position in FedEx in the 1st quarter valued at approximately $203,000. Avidian Wealth Solutions LLC raised its stake in shares of FedEx by 15.2% in the first quarter. Avidian Wealth Solutions LLC now owns 2,043 shares of the shipping service provider’s stock valued at $592,000 after purchasing an additional 270 shares in the last quarter. TFB Advisors LLC acquired a new stake in shares of FedEx during the 1st quarter valued at about $265,000. Finally, Mediolanum International Funds Ltd acquired a new stake in FedEx during the first quarter valued at approximately $2,387,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 2.1 %

Shares of FDX stock traded up $6.27 during mid-day trading on Thursday, reaching $299.54. 1,132,921 shares of the company’s stock traded hands, compared to its average volume of 1,928,193. The company has a market cap of $73.71 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.07 and a beta of 1.18. The company’s 50-day moving average price is $262.75 and its 200-day moving average price is $257.91. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $302.41. 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 released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.94 EPS. On average, equities analysts expect that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is 32.04%.

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

Analyst Ratings Changes

FDX has been the subject of a number of research reports. Argus raised their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Bank of America lifted their price objective on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. TD Cowen lifted their price target on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Robert W. Baird upped their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Buying and Selling at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have sold 20,030 shares of company stock worth $5,904,017 over the last quarter. Insiders own 8.73% of the company’s stock.

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.