Dumont & Blake Investment Advisors LLC Sells 165 Shares of FedEx Co. (NYSE:FDX)

Dumont & Blake Investment Advisors LLC lowered its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,982 shares of the shipping service provider’s stock after selling 165 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in FedEx were worth $1,260,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. 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 acquiring an additional 63 shares during the period. Planned Solutions Inc. bought a new position in FedEx in the fourth quarter worth $32,000. Baystate Wealth Management LLC increased 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 valued at $33,000 after buying an additional 50 shares during the period. RVW Wealth LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $40,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Barclays upped their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Evercore ISI raised their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. BNP Paribas reiterated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Stephens dropped their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. Finally, Morgan Stanley boosted their target price 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

Read Our Latest Stock Analysis on FDX

FedEx Trading Up 1.2 %

Shares of NYSE:FDX traded up $3.19 during mid-day trading on Wednesday, reaching $278.48. The stock had a trading volume of 1,108,091 shares, compared to its average volume of 2,177,030. The firm has a 50 day simple moving average of $252.49 and a two-hundred day simple moving average of $253.15. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a market cap of $68.53 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.33 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 (NYSE:FDXGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm posted $3.41 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

FedEx declared that its board has approved a share buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly 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 available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders have sold 19,393 shares of company stock worth $5,581,475 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

FedEx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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