North Star Asset Management Inc. Reduces Holdings in FedEx Co. (NYSE:FDX)

North Star Asset Management Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 70,164 shares of the shipping service provider’s stock after selling 1,380 shares during the quarter. North Star Asset Management Inc.’s holdings in FedEx were worth $17,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Financial Management Professionals Inc. lifted its position in shares of 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 position in shares of FedEx in the 4th quarter worth about $30,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx in the 4th quarter worth about $31,000. Planned Solutions Inc. bought a new position in shares of FedEx in the 4th quarter worth about $32,000. Finally, Valley National Advisers Inc. increased its stake in shares of 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 acquiring an additional 74 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX stock traded up $3.62 during trading hours on Friday, reaching $266.99. The company had a trading volume of 1,894,373 shares, compared to its average volume of 2,131,599. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market cap of $65.70 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business has a fifty day moving average price of $259.22 and a 200-day moving average price of $254.10. FedEx Co. has a one year low of $213.80 and a one year high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (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 net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. Sell-side analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Insider Buying and Selling

In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx 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 transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Evercore ISI increased their price target on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays increased their price target 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. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Morgan Stanley raised their price objective on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.33.

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.