Stock Yards Bank & Trust Co. Has $1.89 Million Holdings in FedEx Co. (NYSE:FDX)

Stock Yards Bank & Trust Co. trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,475 shares of the shipping service provider’s stock after selling 160 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in FedEx were worth $1,891,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Telemus Capital LLC raised its stake in shares of FedEx by 2.3% during the fourth quarter. Telemus Capital LLC now owns 2,903 shares of the shipping service provider’s stock valued at $734,000 after acquiring an additional 66 shares during the last quarter. OLD National Bancorp IN lifted its holdings in FedEx by 3.7% during the 4th quarter. OLD National Bancorp IN now owns 3,353 shares of the shipping service provider’s stock worth $848,000 after buying an additional 120 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in shares of FedEx in the 4th quarter valued at about $478,000. Cetera Trust Company N.A bought a new position in shares of FedEx during the fourth quarter worth about $2,397,000. Finally, Heritage Investment Group Inc. bought a new stake in FedEx in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Robert W. Baird boosted their target price on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Performance

Shares of FedEx stock opened at $270.15 on Tuesday. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. 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 business has a 50 day moving average price of $259.74 and a 200-day moving average price of $254.18. The company has a market cap of $66.48 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.26 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 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 EPS. Equities analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has approved a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.