FedEx Co. (NYSE:FDX) Shares Bought by Hyman Charles D

Hyman Charles D lifted its stake in shares of FedEx Co. (NYSE:FDX) by 15.5% in the fourth quarter, Holdings Channel reports. The firm owned 10,405 shares of the shipping service provider’s stock after buying an additional 1,400 shares during the period. Hyman Charles D’s holdings in FedEx were worth $2,632,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sentry LLC purchased a new position in shares of FedEx in the fourth quarter worth about $1,811,748,000. Mizuho Markets Americas LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $496,611,000. FMR LLC increased its holdings in shares of FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the last quarter. International Assets Investment Management LLC lifted its position in FedEx by 33,890.5% during the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake 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 buying an additional 595,628 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX traded down $0.82 during trading on Tuesday, reaching $259.47. 1,348,933 shares of the stock were exchanged, compared to its average volume of 1,948,964. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The company has a market capitalization of $63.85 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.23 and a beta of 1.23. The business’s 50 day moving average price is $265.01 and its two-hundred day moving average price is $255.28. 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 posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm posted $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx declared that its board has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated 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 directly owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were 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 $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s 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 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. In the last ninety days, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FDX. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Robert W. Baird lifted their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Evercore ISI raised their price target on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Barclays lifted their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.