EdgeRock Capital LLC Makes New $44,000 Investment in FedEx Co. (NYSE:FDX)

EdgeRock Capital LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 181 shares of the shipping service provider’s stock, valued at approximately $44,000.

Other hedge funds also recently made changes to their positions in the company. KRS Capital Management LLC grew its stake in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares during the last quarter. Zullo Investment Group Inc. increased its holdings in shares of FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares during the period. Toth Financial Advisory Corp raised its position in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC grew its position in FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 $3,978,953,009.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FDX shares. Stifel Nicolaus lowered their price target on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Morgan Stanley upped their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. BMO Capital Markets raised their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, UBS Group boosted their price target on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Price Performance

FedEx stock traded down $1.46 during mid-day trading on Wednesday, hitting $258.01. 1,451,257 shares of the company were exchanged, compared to its average volume of 1,943,395. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The business’s 50 day simple moving average is $265.01 and its two-hundred day simple moving average is $255.28. The company has a market capitalization of $63.49 billion, a P/E ratio of 14.88, a PEG ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. The firm 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 firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.41 EPS. Analysts forecast that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx announced that its board has initiated a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio is presently 29.07%.

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.