Buckley Wealth Management LLC Has $949,000 Position in FedEx Co. (NYSE:FDX)

Buckley Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the shipping service provider’s stock after selling 510 shares during the quarter. Buckley Wealth Management LLC’s holdings in FedEx were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FDX. Procyon Advisors LLC boosted its holdings in FedEx by 5.6% during the 4th quarter. Procyon Advisors LLC now owns 17,637 shares of the shipping service provider’s stock worth $4,462,000 after acquiring an additional 931 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of FedEx during the 4th quarter worth $32,000. Jacobs & Co. CA raised its stake in shares of FedEx by 2.2% during the 4th quarter. Jacobs & Co. CA now owns 45,366 shares of the shipping service provider’s stock worth $11,476,000 after purchasing an additional 972 shares during the period. Columbia Trust Co 01012016 raised its stake in shares of FedEx by 8.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 2,068 shares of the shipping service provider’s stock worth $523,000 after purchasing an additional 153 shares during the period. Finally, Cresta Advisors Ltd. bought a new stake in shares of FedEx during the 4th quarter worth $379,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.4 %

FDX stock traded down $1.11 during midday trading on Wednesday, hitting $287.88. The company had a trading volume of 1,785,798 shares, compared to its average volume of 2,188,714. 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 Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The stock’s 50 day moving average price is $248.74 and its 200 day moving average price is $252.07. The stock has a market cap of $70.84 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.34 and a beta of 1.20.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts expect that FedEx Co. will post 17.61 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $1.26 per share. The ex-dividend date is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s dividend payout ratio is presently 29.07%.

FedEx declared that its board has initiated a stock 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 buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. Stephens lowered their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 20th. Barclays boosted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Bank Of America (Bofa) boosted their price objective on FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Finally, Bank of America upped their price target on FedEx from $313.00 to $346.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $298.89.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was bought at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now directly owns 4,745 shares in the company, valued at $1,195,834.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was acquired at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now owns 4,745 shares in the company, valued at $1,195,834.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was 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 approximately $140,507.46. The disclosure for this sale can be found here. 8.73% of the stock is owned by corporate insiders.

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.