Wrapmanager Inc. Lowers Holdings in FedEx Co. (NYSE:FDX)

Wrapmanager Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,416 shares of the shipping service provider’s stock after selling 44 shares during the period. Wrapmanager Inc.’s holdings in FedEx were worth $358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FDX. KRS Capital Management LLC lifted its holdings in FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. grew its holdings in FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp increased its position in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after buying an additional 44 shares in the last quarter. SVB Wealth LLC increased its position in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BNP Paribas reissued an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. TD Cowen upped their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group raised their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One equities research 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, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other FedEx 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 transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Up 1.6 %

Shares of NYSE:FDX traded up $4.05 during mid-day trading on Thursday, reaching $262.06. 923,202 shares of the company were exchanged, compared to its average volume of 1,932,069. FedEx Co. has a 1 year low of $213.80 and a 1 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. The firm’s 50-day simple moving average is $265.29 and its 200 day simple moving average is $255.30. The firm has a market cap of $64.49 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly 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. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $3.41 earnings per share. Equities research analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.92%. FedEx’s dividend payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.