FedEx Co. (NYSE:FDX) Holdings Lowered by Leisure Capital Management

Leisure Capital Management trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,058 shares of the shipping service provider’s stock after selling 824 shares during the quarter. Leisure Capital Management’s holdings in FedEx were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 worth $4,961,716,000 after buying an additional 59,161 shares in the last quarter. Sentry LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $1,811,748,000. FMR LLC raised its holdings in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Morgan Stanley raised its holdings in shares of FedEx by 1.1% in the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after purchasing an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of FedEx by 13.6% in the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after purchasing an additional 360,680 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 0.1 %

FDX stock traded up $0.32 during trading hours on Friday, hitting $265.84. The company’s stock had a trading volume of 958,876 shares, compared to its average volume of 1,517,622. 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 company has a market capitalization of $65.42 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The stock has a 50 day moving average price of $262.17 and a two-hundred day moving average price of $254.51.

FedEx (NYSE:FDX) last posted its 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 during 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 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 firm posted $3.41 earnings per share. On average, equities research analysts expect that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx announced that its Board of Directors has authorized a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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 $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is 29.07%.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on 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 directly owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 sale, the chairman now 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. Insiders sold 136,668 shares of company stock valued at $37,758,773 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FDX. Bank of America dropped their target price 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. Morgan Stanley boosted their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their target price 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. TD Cowen boosted their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Robert W. Baird lifted their target price on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.