Yousif Capital Management LLC Trims Holdings in FedEx Co. (NYSE:FDX)

Yousif Capital Management LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,757 shares of the shipping service provider’s stock after selling 2,379 shares during the quarter. Yousif Capital Management LLC’s holdings in FedEx were worth $9,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KRS Capital Management LLC raised its stake in shares of FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. raised its stake in shares of FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 42 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. SVB Wealth LLC raised its stake in shares of FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after buying an additional 45 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FDX. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Evercore ISI increased their price target on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. The Goldman Sachs Group increased their target price on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Jefferies Financial Group increased their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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 dated 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 completion of the sale, the chairman now directly 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 accessible through this hyperlink. In other FedEx news, 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 transaction of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $264.50 on Thursday. 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 cap of $65.09 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.28 and a beta of 1.21. The business has a fifty day simple moving average of $261.03 and a 200-day simple moving average of $254.36. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating 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 analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business earned $3.41 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.91%. FedEx’s payout ratio is 29.07%.

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

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.