Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,322 Shares of FedEx Co. (NYSE:FDX)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of FedEx Co. (NYSE:FDX) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,397 shares of the shipping service provider’s stock after purchasing an additional 2,322 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of FedEx worth $34,251,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its holdings in FedEx by 143.2% during 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. Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the 4th quarter valued at about $31,000. Planned Solutions Inc. purchased a new stake in FedEx during the 4th quarter valued at about $32,000. Valley National Advisers Inc. boosted its holdings in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, BOK Financial Private Wealth Inc. boosted its holdings in FedEx by 321.9% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 103 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FDX shares. Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. TD Cowen increased their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. UBS Group increased their price objective on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Bank Of America (Bofa) increased their price objective on FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $301.33.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s 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 transaction, the chairman now directly 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 SEC, which is accessible through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Down 0.7 %

FDX stock opened at $264.86 on Wednesday. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $65.18 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business has a 50 day moving average of $257.89 and a 200 day moving average of $254.05.

FedEx (NYSE:FDX) last posted its 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. 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS. On average, research analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

FedEx declared that its board has initiated a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.