FedEx Co. (NYSE:FDX) Shares Bought by Carret Asset Management LLC

Carret Asset Management LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,641 shares of the shipping service provider’s stock after purchasing an additional 787 shares during the period. FedEx accounts for 0.9% of Carret Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Carret Asset Management LLC’s holdings in FedEx were worth $7,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Sentry LLC acquired a new stake in shares of FedEx in the 4th quarter worth about $1,811,748,000. Mizuho Markets Americas LLC acquired a new stake in shares of FedEx in the 3rd quarter worth about $496,611,000. FMR LLC increased its holdings in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares during the period. International Assets Investment Management LLC increased its holdings in shares of FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after acquiring an additional 649,680 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of FedEx by 144.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after acquiring an additional 595,628 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of 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 available through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the transaction, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 over the last three months. 8.73% of the stock is owned by corporate insiders.

FedEx Trading Down 2.1 %

Shares of FDX traded down $5.65 during midday trading on Wednesday, hitting $266.10. The stock had a trading volume of 1,695,666 shares, compared to its average volume of 2,056,297. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a 50-day simple moving average of $260.44 and a two-hundred day simple moving average of $254.28. The firm has a market cap of $65.48 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. 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 announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $3.41 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Evercore ISI increased their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Morgan Stanley increased their target price on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Stifel Nicolaus decreased their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Robert W. Baird increased their target price on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

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.