FedEx Co. (NYSE:FDX) Stock Position Lowered by Telos Capital Management Inc.

Telos Capital Management Inc. lessened its position in FedEx Co. (NYSE:FDX) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,985 shares of the shipping service provider’s stock after selling 138 shares during the quarter. Telos Capital Management Inc.’s holdings in FedEx were worth $4,550,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FDX. Norges Bank purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $388,787,000. Mizuho Markets Americas LLC purchased a new stake in shares of FedEx in the 3rd quarter valued at approximately $496,611,000. FMR LLC lifted its position in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after acquiring an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FedEx by 144.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after acquiring an additional 595,628 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research report on Monday, January 8th. Jefferies Financial Group increased their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

Insiders Place Their Bets

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last ninety days. Insiders own 8.73% of the company’s stock.

FedEx Stock Performance

NYSE:FDX traded down $1.27 during midday trading on Wednesday, reaching $263.67. The stock had a trading volume of 671,790 shares, compared to its average volume of 2,089,723. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The firm’s fifty day simple moving average is $257.89 and its 200-day simple moving average is $254.05. 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 stock has a market capitalization of $64.88 billion, a P/E ratio of 15.28, a PEG ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. On average, equities research analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

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 $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.91%. FedEx’s dividend payout ratio is 29.07%.

FedEx declared that its board has approved a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.