Tyche Wealth Partners LLC Acquires Shares of 2,289 FedEx Co. (NYSE:FDX)

Tyche Wealth Partners LLC bought a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,289 shares of the shipping service provider’s stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. RB Capital Management LLC boosted its holdings in FedEx by 3.3% in the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 63 shares during the last quarter. AMI Investment Management Inc. boosted its stake in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of FedEx by 101.5% during the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock worth $989,000 after buying an additional 2,153 shares during the period. Baird Financial Group Inc. raised its stake in shares of FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock worth $34,408,000 after buying an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FDX shares. Stifel Nicolaus lowered their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. BMO Capital Markets boosted their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Bank of America dropped their price target on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. BNP Paribas reiterated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group upped their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Down 0.7 %

Shares of NYSE FDX traded down $1.80 during midday trading on Wednesday, reaching $264.94. The stock had a trading volume of 1,421,134 shares, compared to its average volume of 2,349,459. The company’s 50 day moving average price is $257.89 and its 200 day moving average price is $254.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a market cap of $65.20 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last released 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 net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the business earned $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 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. 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 1.90%. FedEx’s payout ratio is currently 29.07%.

FedEx declared that its board has initiated a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at FedEx

In other FedEx 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 value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last quarter. Company insiders own 8.73% of the company’s stock.

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.