Pinnacle Wealth Management Advisory Group LLC Acquires 337 Shares of FedEx Co. (NYSE:FDX)

Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 12.9% in the 4th quarter, Holdings Channel reports. The fund owned 2,951 shares of the shipping service provider’s stock after buying an additional 337 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in FedEx were worth $747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. increased its holdings in shares of FedEx by 15.5% during the third quarter. Brown Advisory Inc. now owns 26,279 shares of the shipping service provider’s stock worth $6,962,000 after buying an additional 3,534 shares in the last quarter. Verdence Capital Advisors LLC raised its position in FedEx by 5.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,394 shares of the shipping service provider’s stock valued at $369,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of FedEx by 12.2% during the third quarter. Brighton Jones LLC now owns 1,697 shares of the shipping service provider’s stock valued at $450,000 after purchasing an additional 184 shares in the last quarter. Advisor Partners II LLC grew its holdings in shares of FedEx by 2.7% during the third quarter. Advisor Partners II LLC now owns 9,105 shares of the shipping service provider’s stock worth $2,412,000 after purchasing an additional 240 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of FedEx in the third quarter valued at approximately $833,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. Evercore ISI boosted their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. The Goldman Sachs Group increased their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Bank of America lowered their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, Barclays upped their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen 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 $301.33.

FedEx Stock Down 0.6 %

NYSE FDX traded down $1.46 during mid-day trading on Wednesday, hitting $258.01. The company’s stock had a trading volume of 1,451,257 shares, compared to its average volume of 1,943,395. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company’s 50 day simple moving average is $265.01 and its 200 day simple moving average is $255.28. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a market capitalization of $63.49 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last posted 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 company had revenue of $21.70 billion during 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 for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. Analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.95%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx announced that its board has initiated a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the 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 of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. In the last three months, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

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.