FedEx Co. (NYSE:FDX) Shares Sold by Keel Point LLC

Keel Point LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,533 shares of the shipping service provider’s stock after selling 173 shares during the period. Keel Point LLC’s holdings in FedEx were worth $3,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after purchasing an additional 59,161 shares during the last quarter. FMR LLC raised its position in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the period. Morgan Stanley raised its position in shares of FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after buying an additional 559,607 shares during the period. Invesco Ltd. raised its position in shares of FedEx by 13.6% during the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after buying an additional 360,680 shares during the period. Finally, Northern Trust Corp raised its position in shares of FedEx by 2.6% during the 3rd quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock valued at $624,180,000 after buying an additional 60,201 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group lifted their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Stephens reduced their price target on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Bank of America reduced their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, Bank Of America (Bofa) boosted their target price on FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Buying and Selling at FedEx

In other news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction 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 Securities & Exchange Commission, which is available through this link. In other news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The stock was 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 approximately $140,507.46. The disclosure for this sale can be found here. Insiders 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.

FedEx Stock Down 0.4 %

Shares of FDX stock traded down $1.14 on Monday, reaching $266.66. 604,228 shares of the stock were exchanged, compared to its average volume of 2,112,914. 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 moving average price is $256.85 and its 200 day moving average price is $254.04. The company has a market capitalization of $65.62 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.26 and a beta of 1.21. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date 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 has initiated a stock repurchase program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.