FedEx Co. (NYSE:FDX) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,176 shares of the shipping service provider’s stock after selling 1,698 shares during the quarter. FedEx accounts for about 2.1% of Callahan Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Callahan Advisors LLC’s holdings in FedEx were worth $18,258,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after buying an additional 13,197 shares during the period. Planned Solutions Inc. bought a new position in FedEx in the 4th quarter worth approximately $32,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after purchasing an additional 13,642 shares in the last quarter. Skba Capital Management LLC grew its holdings in shares of FedEx by 0.3% during the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after purchasing an additional 100 shares in the last quarter. Finally, Vishria Bird Financial Group LLC grew its holdings in shares of FedEx by 21.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock worth $21,286,000 after purchasing an additional 14,036 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Morgan Stanley boosted their price target on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Finally, StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx Price Performance

Shares of NYSE:FDX traded down $1.99 during midday trading on Friday, reaching $273.52. 1,568,473 shares of the company were exchanged, compared to its average volume of 2,426,160. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The business’s fifty day moving average is $253.95 and its two-hundred day moving average is $253.68. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The stock has a market cap of $67.31 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.30 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 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 in the prior year, the business earned $3.41 earnings per share. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given 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 1.84%. FedEx’s dividend payout ratio is 29.07%.

FedEx announced that its board has initiated a stock buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in 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 generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark R. Allen sold 10,145 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the transaction, the executive vice president now owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,718 shares of company stock worth $5,950,143. 8.73% of the stock is owned by insiders.

FedEx Company 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.