Bfsg LLC Sells 50 Shares of FedEx Co. (NYSE:FDX)

Bfsg LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 877 shares of the shipping service provider’s stock after selling 50 shares during the period. Bfsg LLC’s holdings in FedEx were worth $222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after acquiring an additional 13,197 shares during the period. Western Wealth Management LLC boosted its stake in shares of FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. bought a new stake in shares of FedEx during the 4th quarter valued at about $282,000. Planned Solutions Inc. bought a new stake in shares of FedEx during the 4th quarter valued at about $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after purchasing an additional 13,642 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of research reports. Barclays lifted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Evercore ISI boosted their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” 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 objective on the stock in a research note on Monday, January 8th. BMO Capital Markets boosted their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, BNP Paribas reiterated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Down 1.0 %

Shares of FDX traded down $2.57 during midday trading on Thursday, hitting $263.50. The stock had a trading volume of 274,967 shares, compared to its average volume of 2,033,761. The firm has a market cap of $64.84 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The stock’s 50 day moving average is $261.03 and its 200 day moving average is $254.36. 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 posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 EPS. As a group, analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

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

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s 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 sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The stock was 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 of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

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.