FedEx Co. (NYSE:FDX) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC grew its stake in FedEx Co. (NYSE:FDX) by 109.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the shipping service provider’s stock after buying an additional 1,682 shares during the quarter. Larson Financial Group LLC’s holdings in FedEx were worth $815,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Vanguard Group Inc. increased its stake in FedEx by 0.3% during the 3rd 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. Sentry LLC purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $1,811,748,000. FMR LLC grew its position in shares of FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Morgan Stanley grew its position in shares of FedEx by 1.1% in the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after purchasing an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after purchasing an additional 360,680 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FDX shares. UBS Group upped their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Stifel Nicolaus reduced their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. TD Cowen increased their price objective on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Finally, Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

FedEx Price Performance

NYSE:FDX traded up $2.23 during trading hours on Tuesday, reaching $272.38. 427,185 shares of the company’s stock were exchanged, compared to its average volume of 2,050,853. The business’s 50-day simple moving average is $259.74 and its two-hundred day simple moving average is $254.18. 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 company has a market capitalization of $67.03 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.26 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 EPS for the quarter, topping 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 firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the business posted $3.41 EPS. The company’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.85%. FedEx’s payout ratio is 29.07%.

FedEx declared that its Board of Directors has approved a stock repurchase 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign 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.