Folger Nolan Fleming Douglas Capital Management Inc. Sells 690 Shares of FedEx Co. (NYSE:FDX)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,689 shares of the shipping service provider’s stock after selling 690 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in FedEx were worth $5,234,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FDX. Financial Management Professionals Inc. boosted its position in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of FedEx in the 4th quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx in the 4th quarter worth $31,000. Planned Solutions Inc. acquired a new stake in shares of FedEx in the 4th quarter worth $32,000. Finally, Valley National Advisers Inc. boosted its position in shares of FedEx by 123.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on FDX shares. UBS Group raised their price objective on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, TD Cowen lifted their price target on FedEx from $293.00 to $320.00 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was 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 legal filing with the SEC, which is available at this link. In other news, 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock traded up $0.32 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 debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The firm has a fifty day moving average price of $262.17 and a 200-day moving average price of $254.51. The company has a market capitalization of $65.42 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21.

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, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the firm posted $3.41 EPS. FedEx’s revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

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

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.