FedEx Co. (NYSE:FDX) Shares Sold by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,391 shares of the shipping service provider’s stock after selling 1,620 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in FedEx were worth $858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. increased its position in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $30,000. Tennessee Valley Asset Management Partners acquired a new stake in FedEx during the 4th quarter worth approximately $31,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $32,000. Finally, Valley National Advisers Inc. increased its position in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $270.15 on Tuesday. The firm has a market capitalization of $66.48 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. 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 one year low of $213.80 and a one year high of $291.27. The stock’s fifty day moving average is $259.74 and its 200-day moving average is $254.18.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.60% and a net margin of 5.02%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $3.41 earnings per share. Equities analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its board has authorized a share buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was 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 of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, 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 transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated 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 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 a total of 136,668 shares of company stock valued at $37,758,773 over the last three months. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FDX. Stifel Nicolaus dropped their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Barclays increased their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research report on Monday, January 8th. BMO Capital Markets increased 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. Finally, The Goldman Sachs Group increased their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

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.