Rakuten Securities Inc. Invests $30,000 in FedEx Co. (NYSE:FDX)

Rakuten Securities Inc. acquired a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel reports. The firm acquired 117 shares of the shipping service provider’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. KRS Capital Management LLC grew its holdings in shares of FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares in the last quarter. SVB Wealth LLC grew its holdings in shares of FedEx by 2.5% in the fourth 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 in the last quarter. Finally, Family Legacy Inc. grew its holdings in shares of FedEx by 3.2% in the third quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock valued at $381,000 after acquiring an additional 45 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FDX. 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. Stifel Nicolaus reduced their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Trading Up 0.1 %

Shares of FDX stock opened at $263.37 on Friday. The business’s fifty day moving average is $258.74 and its 200 day moving average is $254.17. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $64.81 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21.

FedEx (NYSE:FDX) last released its quarterly earnings results 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 return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the business posted $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.91%. FedEx’s payout ratio is 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.