Leo Wealth LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Leo Wealth LLC acquired a new stake in FedEx Co. (NYSE:FDXFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,560 shares of the shipping service provider’s stock, valued at approximately $395,000.

Several other large investors have also made changes to their positions in the business. Scarborough Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $25,000. Fortis Group Advisors LLC increased its stake in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FedEx during the 4th quarter worth $30,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated 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 sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. 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 three months. 8.73% of the stock is currently owned by insiders.

FedEx Stock Up 1.5 %

Shares of FDX stock traded up $3.63 on Monday, hitting $250.06. The company’s stock had a trading volume of 1,213,104 shares, compared to its average volume of 1,796,426. The stock has a market capitalization of $61.53 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.89 and a beta of 1.16. FedEx Co. has a fifty-two week low of $223.24 and a fifty-two week high of $291.27. The firm’s fifty day moving average price is $258.70 and its 200-day moving average price is $256.40. 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:FDXGet Free Report) last released its quarterly 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 net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm posted $3.41 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 17.76 EPS for the current year.

FedEx announced that its board has authorized a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s payout ratio is currently 29.07%.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Wells Fargo & Company assumed coverage on FedEx in a research report on Friday, June 7th. They set an “equal weight” rating and a $275.00 price target for the company. Stifel Nicolaus cut their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Finally, The Goldman Sachs Group lifted their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.92.

Get Our Latest Research Report on FDX

About FedEx

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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