Naples Money Management LLC Invests $34,000 in FedEx Co. (NYSE:FDX)

Naples Money Management LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 134 shares of the shipping service provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. RIA Advisory Group LLC bought a new stake in shares of FedEx during the 4th quarter valued at $3,508,000. Eukles Asset Management increased its holdings in FedEx by 260.2% in the 4th quarter. Eukles Asset Management now owns 9,301 shares of the shipping service provider’s stock valued at $2,353,000 after acquiring an additional 6,719 shares during the last quarter. Hapanowicz & Associates Financial Services Inc bought a new stake in FedEx in the 4th quarter valued at $223,000. Western Wealth Management LLC increased its holdings in FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after acquiring an additional 333 shares during the last quarter. Finally, Xponance Inc. increased its holdings in FedEx by 5.7% in the 4th quarter. Xponance Inc. now owns 30,029 shares of the shipping service provider’s stock valued at $7,596,000 after acquiring an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $266.99 on Friday. The stock has a market cap of $65.70 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.24 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 Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The firm has a 50-day moving average of $259.22 and a two-hundred day moving average of $254.19.

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. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.41 EPS. On average, research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.89%. FedEx’s payout ratio is presently 29.07%.

FedEx announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in 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 often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on FDX shares. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. TD Cowen lifted their price target on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, BNP Paribas restated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s 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 approximately $3,223,600.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

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.