Harvest Fund Management Co. Ltd Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Harvest Fund Management Co. Ltd trimmed its position in FedEx Co. (NYSE:FDX) by 62.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 549 shares of the shipping service provider’s stock after selling 923 shares during the period. Harvest Fund Management Co. Ltd’s holdings in FedEx were worth $139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Financial Management Professionals Inc. raised 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 worth $27,000 after buying an additional 63 shares during the period. Rakuten Securities Inc. bought a new stake in FedEx during the 4th quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners bought a new stake in FedEx during the 4th quarter valued at approximately $31,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. raised its stake in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. 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. 8.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. Morgan Stanley lifted their target price on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Stifel Nicolaus reduced their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, UBS Group lifted their price objective 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 assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

FDX opened at $264.56 on Thursday. The business has a fifty day moving average of $261.03 and a 200 day moving average of $254.36. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market cap of $65.10 billion, a P/E ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business earned $3.41 EPS. FedEx’s revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. 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 29.07%.

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.