Roffman Miller Associates Inc. PA Reduces Position in FedEx Co. (NYSE:FDX)

Roffman Miller Associates Inc. PA lowered its stake in FedEx Co. (NYSE:FDX) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,774 shares of the shipping service provider’s stock after selling 6,726 shares during the period. FedEx accounts for 1.5% of Roffman Miller Associates Inc. PA’s holdings, making the stock its 26th biggest position. Roffman Miller Associates Inc. PA’s holdings in FedEx were worth $21,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FDX. Vanguard Group Inc. lifted its position 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 acquiring an additional 59,161 shares during the period. Sentry LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $1,811,748,000. FMR LLC boosted its position in 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 buying an additional 916,555 shares during the last quarter. Morgan Stanley raised its position in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after buying an additional 35,085 shares during the last quarter. Finally, Invesco Ltd. raised its position in FedEx by 13.6% during the 3rd 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 during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 0.6 %

Shares of FDX stock traded up $1.58 during trading on Friday, hitting $267.10. 512,681 shares of the stock traded hands, compared to its average volume of 2,022,426. The firm has a market capitalization of $65.73 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. 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 firm’s fifty day moving average price is $261.61 and its 200-day moving average price is $254.44.

FedEx (NYSE:FDX) last announced 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. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. As a group, research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

Insider Activity

In related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were 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 of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Monday, January 8th. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Barclays upped their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Bank of America cut their price target on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. One investment 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 data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

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.