FedEx Co. (NYSE:FDX) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 22.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,077 shares of the shipping service provider’s stock after selling 618 shares during the period. Octavia Wealth Advisors LLC’s holdings in FedEx were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC raised its holdings in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after acquiring an additional 44 shares during the last quarter. Mackenzie Financial Corp raised its holdings in FedEx by 67.1% in the 4th quarter. Mackenzie Financial Corp now owns 229,954 shares of the shipping service provider’s stock valued at $58,171,000 after acquiring an additional 92,352 shares during the last quarter. BOK Financial Private Wealth Inc. raised its holdings in FedEx by 321.9% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 103 shares during the last quarter. MBM Wealth Consultants LLC raised its holdings in FedEx by 15.0% in the 4th quarter. MBM Wealth Consultants LLC now owns 3,843 shares of the shipping service provider’s stock valued at $953,000 after acquiring an additional 502 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its holdings in FedEx by 2.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 11,694 shares of the shipping service provider’s stock valued at $2,958,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $264.86 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The stock has a market capitalization of $65.18 billion, a PE ratio of 15.27, a P/E/G ratio of 1.26 and a beta of 1.21. The firm has a 50 day moving average of $257.89 and a two-hundred day moving average of $254.05.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating 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 business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the business earned $3.41 EPS. The company’s revenue was down 2.1% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx declared that its board has initiated a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s payout ratio is 29.07%.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction 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 approximately $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on FDX. Bank Of America (Bofa) increased their price objective on shares of FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Monday, January 8th. UBS Group increased their price target on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TD Cowen increased their price target on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley increased their price target 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 research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.