RIA Advisory Group LLC Takes $3.51 Million Position in FedEx Co. (NYSE:FDX)

RIA Advisory Group LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,867 shares of the shipping service provider’s stock, valued at approximately $3,508,000. FedEx comprises about 1.0% of RIA Advisory Group LLC’s investment portfolio, making the stock its 14th largest position.

A number of other large investors have also recently modified their holdings of FDX. KRS Capital Management LLC grew its position in FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. grew its position in FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after buying an additional 42 shares during the period. Toth Financial Advisory Corp grew its position in FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after buying an additional 44 shares during the period. SVB Wealth LLC grew its position in FedEx by 2.5% during the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares during the period. Finally, Family Legacy Inc. grew its position in FedEx by 3.2% during the third quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock valued at $381,000 after buying an additional 45 shares during the period. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. Jefferies Financial Group upped their price target on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Barclays upped their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. UBS Group upped their price target on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. TD Cowen upped their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Up 1.4 %

Shares of NYSE FDX traded up $3.62 during mid-day trading on Friday, reaching $266.99. The company had a trading volume of 1,739,117 shares, compared to its average volume of 2,081,103. The business’s 50-day moving average is $258.74 and its 200-day moving average is $254.17. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market cap of $65.70 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

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 analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business posted $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 17.67 earnings per share for the current 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 issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

FedEx announced that its board has authorized a share repurchase 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 generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock worth $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

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.