Raab & Moskowitz Asset Management LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Raab & Moskowitz Asset Management LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 934 shares of the shipping service provider’s stock after selling 343 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in FedEx were worth $236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in FedEx by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after purchasing an additional 59,161 shares in the last quarter. Sentry LLC purchased a new stake in shares of FedEx during the 4th quarter worth $1,811,748,000. FMR LLC boosted its position in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Morgan Stanley raised its stake in shares of 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 stake in shares of 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. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last 90 days. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on FDX shares. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Bank of America cut their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. UBS Group upped their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Evercore ISI increased their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Stock Up 0.1 %

FedEx stock traded up $0.32 during midday trading on Friday, reaching $265.84. The stock had a trading volume of 958,876 shares, compared to its average volume of 1,517,622. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The company has a market capitalization of $65.42 billion, a P/E ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. The company has a fifty day moving average price of $262.17 and a two-hundred day moving average price of $254.51. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. As a group, equities analysts expect that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx declared that its board has approved a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.90%. FedEx’s dividend payout ratio is presently 29.07%.

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.