Kelman Lazarov Inc. Reduces Position in FedEx Co. (NYSE:FDX)

Kelman Lazarov Inc. decreased its position in FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,403 shares of the shipping service provider’s stock after selling 154 shares during the period. Kelman Lazarov Inc.’s holdings in FedEx were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the company. Telemus Capital LLC lifted its holdings in FedEx by 2.3% in the fourth quarter. Telemus Capital LLC now owns 2,903 shares of the shipping service provider’s stock valued at $734,000 after acquiring an additional 66 shares during the period. OLD National Bancorp IN raised its position in shares of FedEx by 3.7% in the fourth quarter. OLD National Bancorp IN now owns 3,353 shares of the shipping service provider’s stock worth $848,000 after acquiring an additional 120 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in shares of FedEx in the fourth quarter worth about $478,000. Cetera Trust Company N.A acquired a new stake in shares of FedEx during the 4th quarter valued at about $2,397,000. Finally, Heritage Investment Group Inc. purchased a new position in shares of FedEx in the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FDX. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. TD Cowen upped their price objective 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. Morgan Stanley lifted their target price on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group upped their price target on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. One investment 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. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Stock Up 1.6 %

Shares of FDX traded up $4.24 during mid-day trading on Monday, reaching $271.23. The company’s stock had a trading volume of 530,360 shares, compared to its average volume of 2,062,478. The company’s 50 day moving average is $259.22 and its 200 day moving average is $254.10. 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 stock has a market cap of $66.74 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27.

FedEx (NYSE:FDX) last issued 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. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 EPS. Equities analysts anticipate that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx announced that its board has authorized a share buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

FedEx 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.