Probity Advisors Inc. Acquires Shares of 2,338 FedEx Co. (NYSE:FDX)


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Probity Advisors Inc. acquired a new stake in FedEx Co. (NYSE:FDX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,338 shares of the shipping service provider’s stock, valued at approximately $664,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $26,000. Vectors Research Management LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $26,000. RMR Wealth Builders bought a new stake in shares of FedEx in the 4th quarter valued at about $27,000. Lowe Wealth Advisors LLC raised its holdings in shares of FedEx by 500.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 120 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, Curi Capital bought a new stake in shares of FedEx in the 4th quarter valued at about $31,000. 72.74% of the stock is owned by institutional investors.

In other news, CEO Frederick W. Smith sold 102,000 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $290.02, for a total transaction of $29,582,040.00. Following the completion of the sale, the chief executive officer now directly owns 14,595,728 shares of the company’s stock, valued at approximately $4,233,053,034.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $256.89, for a total value of $770,670.00. Following the sale, the director now directly owns 3,750 shares of the company’s stock, valued at $963,337.50. The disclosure for this sale can be found here. Insiders have sold a total of 133,251 shares of company stock valued at $38,573,231 over the last ninety days. Company insiders own 8.49% of the company’s stock.

Shares of FDX opened at $304.55 on Tuesday. The stock’s fifty day moving average is $281.13 and its 200-day moving average is $270.28. FedEx Co. has a one year low of $103.40 and a one year high of $305.66. The firm has a market capitalization of $80.81 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.71 and a current ratio of 1.76.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Wednesday, March 17th. The shipping service provider reported $3.47 EPS for the quarter, topping the Zacks’ consensus estimate of $3.21 by $0.26. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The firm had revenue of $21.51 billion during the quarter, compared to analyst estimates of $19.90 billion. During the same period last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 17.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 8th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, March 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. FedEx’s payout ratio is presently 27.37%.

Several research analysts recently commented on FDX shares. Sanford C. Bernstein set a $324.00 price objective on shares of FedEx and gave the stock a “buy” rating in a research note on Wednesday, February 24th. Raymond James upped their price objective on shares of FedEx from $305.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, March 25th. KeyCorp raised shares of FedEx from a “sector weight” rating to an “overweight” rating and set a $350.00 price target on the stock in a report on Monday, April 19th. Vertical Research began coverage on shares of FedEx in a report on Thursday, April 1st. They set a “buy” rating and a $340.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on shares of FedEx from $356.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. FedEx currently has a consensus rating of “Buy” and an average price target of $315.56.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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