FedEx Co. (NYSE:FDX) is Check Capital Management Inc. CA’s 8th Largest Position

Check Capital Management Inc. CA trimmed its position in FedEx Co. (NYSE:FDX) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,731 shares of the shipping service provider’s stock after selling 3,092 shares during the quarter. FedEx accounts for 1.8% of Check Capital Management Inc. CA’s holdings, making the stock its 8th largest holding. Check Capital Management Inc. CA’s holdings in FedEx were worth $47,743,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after buying an additional 13,197 shares during the period. Trust Point Inc. bought a new position in shares of FedEx in the 4th quarter worth $282,000. Planned Solutions Inc. bought a new position in shares of FedEx in the 4th quarter worth $32,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after acquiring an additional 13,642 shares in the last quarter. Finally, Skba Capital Management LLC raised its position in shares of FedEx by 0.3% in the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after acquiring an additional 100 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the 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 completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was 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 owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the 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 approximately $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 quarter. 8.73% of the stock is currently owned by insiders.

FedEx Price Performance

FDX stock traded up $3.62 during mid-day trading on Friday, reaching $266.99. 1,739,080 shares of the company’s stock were exchanged, compared to its average volume of 2,082,447. The company 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. The stock’s 50 day moving average is $258.74 and its 200 day moving average is $254.17. 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.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.41 earnings per share. On average, research analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx announced that its board has approved a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.89%. FedEx’s dividend payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley boosted their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research report on Monday, January 8th. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Finally, Barclays upped their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.