Everett Harris & Co. CA Sells 480 Shares of FedEx Co. (NYSE:FDX)

Everett Harris & Co. CA cut its holdings in FedEx Co. (NYSE:FDX) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,351 shares of the shipping service provider’s stock after selling 480 shares during the quarter. Everett Harris & Co. CA’s holdings in FedEx were worth $1,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Trueblood Wealth Management LLC purchased a new position in shares of FedEx in the 4th quarter worth $221,000. FLC Capital Advisors grew its position in FedEx by 10.7% during the fourth quarter. FLC Capital Advisors now owns 2,122 shares of the shipping service provider’s stock valued at $537,000 after buying an additional 205 shares during the period. Good Life Advisors LLC grew its position in FedEx by 7.5% during the fourth quarter. Good Life Advisors LLC now owns 861 shares of the shipping service provider’s stock valued at $218,000 after buying an additional 60 shares during the period. Procyon Advisors LLC raised its position in FedEx by 5.6% in the fourth quarter. Procyon Advisors LLC now owns 17,637 shares of the shipping service provider’s stock worth $4,462,000 after acquiring an additional 931 shares during the period. Finally, Planned Solutions Inc. purchased a new position in shares of FedEx during the 4th quarter worth $32,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FDX shares. BNP Paribas restated an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a research note on Wednesday. Raymond James lowered their price objective on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 20th. Barclays boosted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Morgan Stanley increased their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group upped their target price on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.07.

FedEx Trading Up 0.6 %

Shares of FedEx stock traded up $1.82 during trading on Thursday, hitting $289.70. The stock had a trading volume of 1,650,726 shares, compared to its average volume of 2,179,895. 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 12 month low of $213.80 and a 12 month high of $291.27. The stock has a market cap of $71.29 billion, a PE ratio of 16.71, a PEG ratio of 1.37 and a beta of 1.20. The firm’s fifty day simple moving average is $249.64 and its 200-day simple moving average is $252.32.

FedEx (NYSE:FDX) last released its 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, March 8th. FedEx’s payout ratio is presently 29.07%.

FedEx declared that its board has initiated a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The shares were 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 owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark R. Allen sold 10,145 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The disclosure for this sale can be found here. Insiders have sold 19,393 shares of company stock valued at $5,581,475 in the last 90 days. 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.