Bryn Mawr Capital Management LLC Lowers Stock Position in FedEx Co. (NYSE:FDX)

Bryn Mawr Capital Management LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 70.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,432 shares of the shipping service provider’s stock after selling 3,430 shares during the period. Bryn Mawr Capital Management LLC’s holdings in FedEx were worth $362,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of FedEx by 11.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after buying an additional 13,197 shares in the last quarter. Western Wealth Management LLC raised its stake in FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after purchasing an additional 333 shares during the period. Trust Point Inc. bought a new stake in FedEx during the 4th quarter valued at approximately $282,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter valued at approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after purchasing an additional 13,642 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Robert W. Baird lifted their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. UBS Group lifted their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TD Cowen lifted their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their price objective on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Activity at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred 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 owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 in the last ninety days. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.1 %

Shares of NYSE:FDX opened at $265.84 on Friday. The business’s 50-day moving average is $262.17 and its 200 day moving average is $254.49. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The firm has a market capitalization of $65.42 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.25 and a beta of 1.21. 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 (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the company posted $3.41 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has authorized a stock repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

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.