Leisure Capital Management Decreases Holdings in FedEx Co. (NYSE:FDX)

Leisure Capital Management lowered its position in FedEx Co. (NYSE:FDX) by 16.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,058 shares of the shipping service provider’s stock after selling 824 shares during the quarter. Leisure Capital Management’s holdings in FedEx were worth $1,027,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FDX. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Rakuten Securities Inc. bought a new stake in FedEx in the 4th quarter worth approximately $30,000. Tennessee Valley Asset Management Partners bought a new stake in FedEx in the 4th quarter worth approximately $31,000. Planned Solutions Inc. bought a new stake in FedEx in the 4th quarter worth approximately $32,000. Finally, Valley National Advisers Inc. lifted its position in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, 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 worth $37,758,773 in the last quarter. 8.73% of the stock is owned by corporate insiders.

FedEx Price Performance

Shares of NYSE:FDX traded up $0.32 during trading on Friday, hitting $265.84. 958,876 shares of the company’s stock were exchanged, compared to its average volume of 1,517,622. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The business’s 50-day simple moving average is $262.17 and its 200 day simple moving average is $254.51. The company has a market cap of $65.42 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21.

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, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business posted $3.41 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its Board of Directors has approved a share repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

FedEx Dividend Announcement

The company 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 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. TD Cowen upped their price target on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.