Delta Financial Advisors LLC Decreases Position in FedEx Co. (NYSE:FDX)

Delta Financial Advisors LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,649 shares of the shipping service provider’s stock after selling 854 shares during the period. Delta Financial Advisors LLC’s holdings in FedEx were worth $1,429,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FDX. RB Capital Management LLC increased its stake in shares of FedEx by 3.3% during the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 63 shares during the last quarter. AMI Investment Management Inc. grew its stake in FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after buying an additional 4,693 shares in the last quarter. Moors & Cabot Inc. grew its stake in FedEx by 101.5% in the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares in the last quarter. Baird Financial Group Inc. grew its stake in FedEx by 7.8% in the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The shares were 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 owns 11,147 shares in the company, valued at $3,223,600.93. 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 three months. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FDX. UBS Group lifted their price objective on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a report on Monday, January 8th. Robert W. Baird raised their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, The Goldman Sachs Group raised their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Trading Up 0.4 %

FedEx stock traded up $1.03 during mid-day trading on Thursday, hitting $264.10. The company’s stock had a trading volume of 301,578 shares, compared to its average volume of 2,075,037. The business has a 50 day moving average price of $258.30 and a 200-day moving average price of $254.11. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The stock has a market cap of $64.99 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company posted $3.41 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its Board of Directors has approved a share repurchase program 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 programs are often a sign that the company’s leadership believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

FedEx 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.