FedEx Co. (NYSE:FDX) Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,852 shares of the shipping service provider’s stock after buying an additional 185 shares during the quarter. Confluence Wealth Services Inc.’s holdings in FedEx were worth $826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in FedEx by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after buying an additional 59,161 shares during the period. Sentry LLC purchased a new position in FedEx during the fourth quarter valued at $1,811,748,000. Capital International Investors lifted its holdings in FedEx by 15.2% during the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares in the last quarter. FMR LLC lifted its holdings in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in FedEx by 1.1% during the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after purchasing an additional 35,085 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 1.5 %

NYSE:FDX traded down $4.06 during trading hours on Tuesday, hitting $261.81. The stock had a trading volume of 853,565 shares, compared to its average volume of 1,999,098. 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 1-year low of $213.80 and a 1-year high of $291.27. The business has a 50 day simple moving average of $263.18 and a two-hundred day simple moving average of $254.72. The company has a market cap of $64.42 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the company earned $3.41 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts predict that FedEx Co. will post 17.69 EPS for the current year.

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 dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

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

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. UBS Group raised their price target on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Monday, January 8th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Finally, Barclays lifted their target price 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Insider Transactions at FedEx

In other news, 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 completion of the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

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.