Institute for Wealth Management LLC. Has $2.78 Million Holdings in FedEx Co. (NYSE:FDX)

Institute for Wealth Management LLC. reduced its position in FedEx Co. (NYSE:FDX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,985 shares of the shipping service provider’s stock after selling 68 shares during the period. Institute for Wealth Management LLC.’s holdings in FedEx were worth $2,779,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. increased its holdings 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 acquiring an additional 63 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of FedEx during the 4th quarter valued at about $30,000. Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx during the 4th quarter valued at about $31,000. Planned Solutions Inc. acquired a new stake in FedEx in the 4th quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. grew its holdings in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Jefferies Financial Group raised their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Bank of America lowered their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. Finally, Evercore ISI raised their price objective on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Up 1.3 %

Shares of NYSE FDX traded up $3.43 during midday trading on Friday, hitting $266.80. The stock had a trading volume of 1,032,841 shares, compared to its average volume of 2,071,221. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The company’s 50-day simple moving average is $258.74 and its 200 day simple moving average is $254.17. The firm has a market cap of $65.65 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during 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 firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.41 earnings per share. Research analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

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

FedEx declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a 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 dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

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.