Naples Money Management LLC Takes Position in FedEx Co. (NYSE:FDX)

Naples Money Management LLC bought a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 134 shares of the shipping service provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Financial Management Professionals Inc. boosted its stake in shares of 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 period. Rakuten Securities Inc. bought a new stake in shares of FedEx in the fourth quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners bought a new stake in shares of FedEx in the fourth quarter valued at approximately $31,000. Planned Solutions Inc. bought a new stake in shares of FedEx in the fourth quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. boosted its stake in shares of 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 period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $266.99 on Friday. The company has a market capitalization of $65.70 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.24 and a beta of 1.21. 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 $259.22 and a 200 day simple moving average of $254.19. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last issued 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the business posted $3.41 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued 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 yield of 1.89%. FedEx’s payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Monday, January 8th. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. BMO Capital Markets upped their target price on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Finally, The Goldman Sachs Group upped their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the 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 sale, 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 SEC, which is accessible through this hyperlink. In other news, 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 value of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. Company insiders own 8.73% of the company’s stock.

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.