EdgeRock Capital LLC Makes New $44,000 Investment in FedEx Co. (NYSE:FDX)

EdgeRock Capital LLC bought a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 181 shares of the shipping service provider’s stock, valued at approximately $44,000.

A number of other institutional investors have also recently bought and sold shares of FDX. Financial Management Professionals Inc. increased its stake in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares during the period. Rakuten Securities Inc. acquired a new stake in FedEx in the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners acquired a new position in FedEx during the fourth quarter worth $31,000. Planned Solutions Inc. bought a new position in shares of FedEx during the fourth quarter valued at $32,000. Finally, Valley National Advisers Inc. boosted its stake in shares of FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.6 %

Shares of FDX stock traded down $1.46 on Wednesday, reaching $258.01. The company had a trading volume of 1,451,257 shares, compared to its average volume of 1,943,395. The company has a 50-day moving average of $265.01 and a 200-day moving average of $255.28. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The stock has a market cap of $63.49 billion, a PE ratio of 14.88, a PEG ratio of 1.23 and a beta of 1.23. 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 (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for 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 business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $3.41 earnings per share. On average, equities analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last three months, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FDX shares. BNP Paribas reissued an “underperform” rating and set a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. TD Cowen boosted their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Evercore ISI increased their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, UBS Group raised their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

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.