3,015 Shares in FedEx Co. (NYSE:FDX) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, HoldingsChannel reports. The firm bought 3,015 shares of the shipping service provider’s stock, valued at approximately $763,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sentry LLC bought a new stake in FedEx during the 4th quarter worth approximately $1,811,748,000. Mizuho Markets Americas LLC acquired a new position in FedEx during the third quarter worth $496,611,000. FMR LLC lifted its position in FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after buying an additional 916,555 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after acquiring an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in FedEx by 144.4% during the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after acquiring an additional 595,628 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’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 $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Performance

Shares of NYSE:FDX traded down $1.46 during trading on Wednesday, hitting $258.01. 1,451,257 shares of the company were exchanged, compared to its average volume of 1,943,373. The company has a market cap of $63.49 billion, a PE ratio of 14.89, a P/E/G ratio of 1.23 and a beta of 1.23. FedEx Co. has a 52-week low of $213.80 and a 52-week 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. The stock has a 50 day moving average of $265.01 and a 200 day moving average of $255.28.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 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 business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the company earned $3.41 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its board has approved a share buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire 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 shares are undervalued.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FDX shares. The Goldman Sachs Group raised their target price 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. Barclays boosted their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. UBS Group upped their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Jefferies Financial Group lifted their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

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.