FedEx Co. (NYSE:FDX) Stock Holdings Lifted by FLC Capital Advisors

FLC Capital Advisors raised its position in FedEx Co. (NYSE:FDX) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122 shares of the shipping service provider’s stock after purchasing an additional 205 shares during the quarter. FLC Capital Advisors’ holdings in FedEx were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Vanguard Group Inc. increased its holdings in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after acquiring an additional 59,161 shares during the last quarter. BlackRock Inc. lifted its position in shares of FedEx by 2.0% in the 2nd quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock worth $4,004,941,000 after acquiring an additional 313,917 shares during the period. FMR LLC lifted its position 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. Morgan Stanley lifted its position in shares of FedEx by 19.6% in the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after acquiring an additional 559,607 shares during the period. Finally, Invesco Ltd. lifted its position in shares of FedEx by 13.6% in the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after acquiring an additional 360,680 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.4 %

NYSE:FDX traded down $1.11 on Wednesday, reaching $287.88. The company’s stock had a trading volume of 1,785,798 shares, compared to its average volume of 2,188,714. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The business’s 50-day moving average price is $248.74 and its two-hundred day moving average price is $252.07. The firm has a market cap of $70.84 billion, a PE ratio of 16.60, a PEG ratio of 1.34 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

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 firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $3.41 EPS. Equities research analysts anticipate that FedEx Co. will post 17.61 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has authorized a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FDX shares. Bank of America raised their target price on FedEx from $313.00 to $346.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Stephens cut their target price on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. JPMorgan Chase & Co. cut their target price on FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a research report on Wednesday, December 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, Jefferies Financial Group raised their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.89.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction dated Thursday, December 28th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,195,834.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were 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 of the company’s stock, valued at approximately $1,195,834.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. 8.73% of the stock is owned by 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.