Folger Nolan Fleming Douglas Capital Management Inc. Cuts Position in FedEx Co. (NYSE:FDX)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 20,689 shares of the shipping service provider’s stock after selling 690 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in FedEx were worth $5,234,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FDX. Sentry LLC acquired a new stake in FedEx in the fourth quarter valued at $1,811,748,000. Mizuho Markets Americas LLC acquired a new stake in FedEx in the third quarter valued at $496,611,000. FMR LLC grew its holdings in 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 grew its holdings in 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. grew its holdings in 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.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

FedEx Trading Up 0.1 %

Shares of FedEx stock traded up $0.32 during trading hours on Friday, reaching $265.84. The stock had a trading volume of 958,876 shares, compared to its average volume of 1,517,622. The firm has a 50 day simple moving average of $262.17 and a two-hundred day simple moving average of $254.51. The firm has a market capitalization of $65.42 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.25 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 Co. has a 1 year low of $213.80 and a 1 year high of $291.27.

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

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

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s dividend payout ratio (DPR) is 29.07%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Jefferies Financial Group increased their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.