Check Capital Management Inc. CA Sells 3,092 Shares of FedEx Co. (NYSE:FDX)

Check Capital Management Inc. CA cut its holdings in shares of FedEx Co. (NYSE:FDX) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,731 shares of the shipping service provider’s stock after selling 3,092 shares during the period. FedEx accounts for approximately 1.8% of Check Capital Management Inc. CA’s holdings, making the stock its 8th biggest holding. Check Capital Management Inc. CA owned about 0.08% of FedEx worth $47,743,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. 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 shares of FedEx in the 4th quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $31,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter worth approximately $32,000. Finally, Valley National Advisers Inc. increased its stake 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. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research reports. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Monday, January 8th. Stifel Nicolaus decreased their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. TD Cowen raised their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Robert W. Baird raised their target price 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. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Price Performance

Shares of NYSE FDX traded up $3.62 during mid-day trading on Friday, reaching $266.99. The company had a trading volume of 1,739,080 shares, compared to its average volume of 2,082,447. 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 firm has a market cap of $65.70 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.24 and a beta of 1.21. The business’s 50-day simple moving average is $258.74 and its 200 day simple moving average is $254.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping 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 company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business earned $3.41 earnings per share. FedEx’s revenue was down 2.1% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

FedEx announced that its board has authorized a stock repurchase 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 generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at FedEx

In other FedEx 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 transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on 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 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 worth $37,758,773 over the last 90 days. Insiders own 8.73% of the company’s stock.

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.