FedEx Co. (NYSE:FDX) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,188 shares of the shipping service provider’s stock after selling 349 shares during the quarter. Intellectus Partners LLC’s holdings in FedEx were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its position in 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 acquiring an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at about $30,000. Tennessee Valley Asset Management Partners acquired a new position in FedEx during the fourth quarter worth about $31,000. Planned Solutions Inc. acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $32,000. Finally, Valley National Advisers Inc. raised its holdings in FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

Shares of NYSE:FDX opened at $265.84 on Monday. The stock has a market capitalization of $65.42 billion, a P/E ratio of 15.33, a PEG ratio of 1.25 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 has a 50-day simple moving average of $262.17 and a 200-day simple moving average of $254.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

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. The company 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%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 earnings per share. Equities analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FDX shares. The Goldman Sachs Group raised their price target on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. BNP Paribas reissued an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. Morgan Stanley upped 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. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a 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 given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Transactions at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

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.