Procyon Advisors LLC Acquires 931 Shares of FedEx Co. (NYSE:FDX)

Procyon Advisors LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,637 shares of the shipping service provider’s stock after buying an additional 931 shares during the quarter. Procyon Advisors LLC’s holdings in FedEx were worth $4,462,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Planned Solutions Inc. bought a new stake in shares of FedEx during the 4th quarter valued at $32,000. Baystate Wealth Management LLC lifted its holdings in FedEx by 60.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in FedEx in the 1st quarter worth approximately $35,000. Finally, RVW Wealth LLC purchased a new position in FedEx in the 3rd quarter worth approximately $40,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Guy M. Erwin II sold 2,749 shares of the 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 completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The disclosure for this sale can be found here. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Monday, January 8th. Stifel Nicolaus decreased their price target on shares of FedEx from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a report on Wednesday, December 20th. Finally, Barclays upped their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $301.07.

FedEx Stock Performance

Shares of FDX traded up $0.95 during mid-day trading on Thursday, reaching $288.83. The company had a trading volume of 217,151 shares, compared to its average volume of 2,155,262. The stock has a 50 day moving average of $248.74 and a two-hundred day moving average of $252.07. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $71.08 billion, a P/E ratio of 16.52, a PEG ratio of 1.37 and a beta of 1.20. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $3.41 EPS. On average, analysts expect that FedEx Co. will post 17.6 earnings per share for the current year.

FedEx announced that its Board of Directors has initiated a stock buyback 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 buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

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.