Foster & Motley Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX – Get Rating) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,666 shares of the shipping service provider’s stock after selling 579 shares during the quarter. Foster & Motley Inc.’s holdings in FedEx were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of FDX. CenterStar Asset Management LLC bought a new position in FedEx in the fourth quarter valued at approximately $29,000. My Personal CFO LLC acquired a new stake in FedEx in the fourth quarter worth $31,000. Cowa LLC acquired a new stake in FedEx in the third quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in FedEx by 163.9% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 190 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 118 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in FedEx in the first quarter worth $35,000. 72.02% of the stock is owned by institutional investors.
FedEx Price Performance
FDX stock opened at $222.93 on Friday. The stock has a market capitalization of $56.03 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33. The company’s 50-day moving average is $222.34 and its 200-day moving average is $197.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.32 and a quick ratio of 1.27. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $248.76.
FedEx (NYSE:FDX – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.74. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The business had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.74 billion. During the same quarter last year, the firm earned $4.59 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 14.93 EPS for the current fiscal year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be given a $1.26 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, June 9th. This represents a $5.04 annualized dividend and a yield of 2.26%. FedEx’s dividend payout ratio (DPR) is presently 43.52%.
Insider Activity at FedEx
In other FedEx news, CEO Rajesh Subramaniam sold 11,125 shares of the stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $231.01, for a total value of $2,569,986.25. Following the completion of the sale, the chief executive officer now owns 39,483 shares in the company, valued at approximately $9,120,967.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Frederick W. Smith sold 131,755 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $232.21, for a total transaction of $30,594,828.55. Following the completion of the sale, the chief executive officer now owns 14,459,759 shares in the company, valued at approximately $3,357,700,637.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rajesh Subramaniam sold 11,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $231.01, for a total transaction of $2,569,986.25. Following the sale, the chief executive officer now owns 39,483 shares of the company’s stock, valued at approximately $9,120,967.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,486 shares of company stock valued at $34,001,009. 8.62% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on FedEx from $250.00 to $258.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Robert W. Baird raised their price objective on FedEx from $250.00 to $275.00 in a report on Thursday, April 6th. Barclays raised their price objective on FedEx from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, March 17th. Evercore ISI lifted their price target on FedEx from $196.00 to $234.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on FedEx from $199.00 to $233.00 in a report on Friday, March 17th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.41.
About FedEx
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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