FedEx Co. (NYSE:FDX) Shares Sold by Archer Investment Corp

Archer Investment Corp lowered its position in shares of FedEx Co. (NYSE:FDX) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,166 shares of the shipping service provider’s stock after selling 251 shares during the quarter. Archer Investment Corp’s holdings in FedEx were worth $1,307,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FDX. Norges Bank acquired a new position in shares of FedEx during the fourth quarter valued at approximately $388,787,000. Mizuho Markets Americas LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $496,611,000. FMR LLC increased its holdings in shares of FedEx by 29.1% in 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 during the last quarter. International Assets Investment Management LLC increased its holdings in shares of FedEx by 33,890.5% in the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after purchasing an additional 649,680 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of FedEx by 144.4% in the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after purchasing an additional 595,628 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FDX. Stifel Nicolaus cut 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. Raymond James cut their price target on FedEx from $279.00 to $275.00 and set an “outperform” rating for the company in a report on Wednesday, December 20th. Evercore ISI increased their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. cut their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a report on Wednesday, December 20th. Finally, Morgan Stanley increased their price target on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction dated 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 approximately $1,735,192.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last ninety days. Insiders own 8.73% of the company’s stock.

FedEx Stock Down 0.7 %

NYSE:FDX traded down $1.95 during midday trading on Wednesday, reaching $262.99. The company had a trading volume of 711,465 shares, compared to its average volume of 2,090,153. The firm has a market capitalization of $64.72 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.26 and a beta of 1.21. The stock’s fifty day simple moving average is $257.89 and its 200-day simple moving average is $254.05. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. 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 released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue 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, sell-side analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx declared that its Board of Directors has initiated a stock buyback 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

FedEx 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.