Archer Investment Corp Has $1.31 Million Stake in FedEx Co. (NYSE:FDX)

Archer Investment Corp lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,166 shares of the shipping service provider’s stock after selling 251 shares during the period. Archer Investment Corp’s holdings in FedEx were worth $1,307,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after buying an additional 59,161 shares during the period. FMR LLC boosted its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the period. Morgan Stanley boosted its stake in shares of FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after buying an additional 559,607 shares during the period. Invesco Ltd. raised its holdings in shares of FedEx by 13.6% during the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after purchasing an additional 360,680 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of FedEx by 2.6% during the 3rd quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock valued at $624,180,000 after purchasing an additional 60,201 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly 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. Over the last three months, insiders sold 136,668 shares of company stock valued at $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

NYSE:FDX traded down $1.95 on Wednesday, reaching $262.99. The stock had a trading volume of 711,465 shares, compared to its average volume of 2,090,153. The company has a market capitalization of $64.72 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.26 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 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 fifty day moving average price of $257.89 and a 200-day moving average price of $254.05.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm 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 company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. Research analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

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 reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. Bank of America cut their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Bank Of America (Bofa) lifted their target price on shares of FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. Raymond James dropped their target price on shares of FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a report on Wednesday, December 20th. Stephens dropped their target price on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, December 20th. Finally, Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. 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, FedEx presently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.