FedEx Co. (NYSE:FDX) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its stake in shares of FedEx Co. (NYSE:FDX) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,421 shares of the shipping service provider’s stock after purchasing an additional 164 shares during the period. Meeder Advisory Services Inc.’s holdings in FedEx were worth $1,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC lifted its stake in shares of FedEx by 4.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after purchasing an additional 39 shares during the last quarter. KRS Capital Management LLC increased its position in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. boosted its position in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares during the period. Regent Peak Wealth Advisors LLC grew its stake in shares of FedEx by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock worth $369,000 after acquiring an additional 43 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in FedEx by 18.0% during the 4th 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 during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total value of $758,826.90. Following the transaction, the director now directly owns 6,955 shares in the company, valued at $2,081,909.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,565 shares of company stock worth $6,662,844. Insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on FDX shares. Argus boosted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James cut their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. BNP Paribas reiterated an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Robert W. Baird raised their price objective on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Performance

Shares of FDX stock traded up $7.40 during midday trading on Tuesday, hitting $312.42. 652,485 shares of the company were exchanged, compared to its average volume of 1,921,106. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.11. The firm’s 50 day moving average price is $265.16 and its two-hundred day moving average price is $259.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market capitalization of $76.88 billion, a P/E ratio of 17.70, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for 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 was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.94 EPS. As a group, equities research analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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 given a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.77%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.