Wright Investors Service Inc. Sells 3,905 Shares of FedEx Co. (NYSE:FDX)

Wright Investors Service Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 70.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,612 shares of the shipping service provider’s stock after selling 3,905 shares during the quarter. Wright Investors Service Inc.’s holdings in FedEx were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in FedEx by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after buying an additional 59,161 shares in the last quarter. FMR LLC grew its position in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after buying an additional 916,555 shares in the last quarter. Morgan Stanley grew its position in FedEx by 19.6% during the fourth quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after buying an additional 559,607 shares in the last quarter. Invesco Ltd. grew its position in FedEx by 13.6% during the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after buying an additional 360,680 shares in the last quarter. Finally, Northern Trust Corp grew its position in FedEx by 2.6% during the third quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock worth $624,180,000 after buying an additional 60,201 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of analyst reports. Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. Stifel Nicolaus reduced their target price on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, UBS Group raised their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Up 0.1 %

Shares of NYSE:FDX opened at $263.37 on Friday. The business has a fifty day simple moving average of $258.74 and a 200 day simple moving average of $254.17. FedEx Co. has a 12-month low of $213.80 and a 12-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 $64.81 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.24 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the company posted $3.41 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx declared that its board has initiated a share repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.