Weatherly Asset Management L. P. Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Weatherly Asset Management L. P. raised its stake in FedEx Co. (NYSE:FDX) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,692 shares of the shipping service provider’s stock after purchasing an additional 165 shares during the quarter. Weatherly Asset Management L. P.’s holdings in FedEx were worth $1,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. IFP Advisors Inc grew its stake in shares of FedEx by 9.3% in the 3rd quarter. IFP Advisors Inc now owns 1,945 shares of the shipping service provider’s stock valued at $517,000 after purchasing an additional 165 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of FedEx by 20.8% in the third quarter. Capital Investment Advisors LLC now owns 1,344 shares of the shipping service provider’s stock valued at $356,000 after buying an additional 231 shares in the last quarter. Cedar Brook Financial Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $319,000. Roberts Wealth Advisors LLC boosted its stake in shares of FedEx by 1.0% in the third quarter. Roberts Wealth Advisors LLC now owns 7,211 shares of the shipping service provider’s stock valued at $1,785,000 after buying an additional 72 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in shares of FedEx by 311.2% in the third quarter. CreativeOne Wealth LLC now owns 8,071 shares of the shipping service provider’s stock valued at $2,138,000 after buying an additional 6,108 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. BMO Capital Markets lifted their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. TD Cowen lifted 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. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Insider Buying and Selling

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. 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. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Up 0.6 %

Shares of NYSE FDX traded up $1.52 on Tuesday, hitting $271.67. The company had a trading volume of 1,186,577 shares, compared to its average volume of 2,060,923. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The business has a 50 day moving average of $259.74 and a two-hundred day moving average of $254.18. 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 capitalization of $66.85 billion, a P/E ratio of 15.75, a PEG ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last issued its earnings results 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 company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.