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

Bfsg LLC reduced its position in FedEx Co. (NYSE:FDX) by 5.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 877 shares of the shipping service provider’s stock after selling 50 shares during the quarter. Bfsg LLC’s holdings in FedEx were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in FedEx by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after acquiring an additional 59,161 shares in the last quarter. Sentry LLC purchased a new position in FedEx in the fourth quarter worth $1,811,748,000. FMR LLC raised its position in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley raised its position in FedEx by 1.1% in the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after acquiring an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. raised its position in FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after acquiring an additional 360,680 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. UBS Group raised their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of FedEx 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 for the company in a research report on Tuesday, April 2nd. Evercore ISI raised their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Stock Down 1.0 %

FedEx stock traded down $2.57 during midday trading on Thursday, hitting $263.50. 274,967 shares of the company were exchanged, compared to its average volume of 2,033,761. The company’s fifty day moving average price is $261.03 and its 200-day moving average price is $254.36. The company has a market cap of $64.84 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.28 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 fifty-two week low of $213.80 and a fifty-two week high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the business earned $3.41 EPS. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.91%. FedEx’s dividend payout ratio is presently 29.07%.

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

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s 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 completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. 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 three months. 8.73% of the stock is owned by insiders.

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.