FedEx Co. (NYSE:FDX) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in FedEx Co. (NYSE:FDX) by 67.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 229,954 shares of the shipping service provider’s stock after purchasing an additional 92,352 shares during the period. Mackenzie Financial Corp’s holdings in FedEx were worth $58,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in FedEx in the fourth quarter valued at approximately $31,000. Planned Solutions Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $32,000. Valley National Advisers Inc. boosted its position in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. boosted its position in FedEx by 321.9% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock valued at $34,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $264.86 on Wednesday. The stock has a market cap of $65.18 billion, a PE ratio of 15.27, a P/E/G ratio of 1.26 and a beta of 1.21. 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 Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The stock has a fifty day simple moving average of $257.89 and a 200-day simple moving average of $254.05.

FedEx (NYSE:FDX) last released its quarterly 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 business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $3.41 EPS. Equities analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

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 issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered their price objective on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. Stephens lowered their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Monday, January 8th. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, UBS Group upped their target price on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now 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 sold 136,668 shares of company stock worth $37,758,773 in the last three months. 8.73% of the stock is owned by company 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.