1,345 Shares in FedEx Co. (NYSE:FDX) Acquired by Certuity LLC

Certuity LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,345 shares of the shipping service provider’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Skylands Capital LLC boosted its position in shares of FedEx by 56.7% in the fourth quarter. Skylands Capital LLC now owns 6,975 shares of the shipping service provider’s stock worth $1,764,000 after acquiring an additional 2,525 shares during the last quarter. Investment House LLC grew its stake in shares of FedEx by 16.8% during the 4th quarter. Investment House LLC now owns 41,775 shares of the shipping service provider’s stock valued at $10,568,000 after buying an additional 6,005 shares during the period. Choreo LLC increased its holdings in shares of FedEx by 24.7% during the 4th quarter. Choreo LLC now owns 4,464 shares of the shipping service provider’s stock worth $1,134,000 after buying an additional 884 shares during the last quarter. Mather Group LLC. raised its position in shares of FedEx by 37.4% in the 4th quarter. Mather Group LLC. now owns 5,349 shares of the shipping service provider’s stock worth $1,353,000 after buying an additional 1,457 shares during the period. Finally, Silver Oak Securities Incorporated grew its position in FedEx by 12.0% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,694 shares of the shipping service provider’s stock valued at $682,000 after acquiring an additional 288 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.4 %

Shares of FedEx stock opened at $260.75 on Thursday. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The stock has a market capitalization of $64.17 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.23 and a beta of 1.23. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $263.57 and its 200-day simple moving average is $254.76.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 earnings per share. Equities research analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx declared that its Board of Directors has initiated a stock buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

FedEx Dividend Announcement

The firm 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 1.93%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FDX. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Evercore ISI lifted their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. BMO Capital Markets raised their price target on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a 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 given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.33.

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.