Kestra Private Wealth Services LLC Has $3.99 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Kestra Private Wealth Services LLC trimmed its position in FedEx Co. (NYSE:FDX) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,755 shares of the shipping service provider’s stock after selling 7,506 shares during the period. Kestra Private Wealth Services LLC’s holdings in FedEx were worth $3,986,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares during the period. 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. bought a new position in FedEx in the fourth quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. lifted its stake in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on FDX. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Monday, January 8th. Robert W. Baird lifted their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note 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 note on Friday, March 22nd. BMO Capital Markets boosted their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, Bank of America cut their price objective 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. One 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, FedEx has an average rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

NYSE:FDX opened at $261.81 on Wednesday. The firm’s fifty day moving average price is $263.18 and its two-hundred day moving average price is $254.72. The company has a market cap of $64.42 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.25 and a beta of 1.21. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. 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 (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 earnings per share. Equities analysts expect that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.93%. FedEx’s payout ratio is presently 29.07%.

FedEx declared that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction 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 $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction 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 $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s 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 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. Insiders sold 136,668 shares of company stock valued at $37,758,773 over the last quarter. 8.73% of the stock is owned by company insiders.

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.