Bradley & Co. Private Wealth Management LLC Sells 550 Shares of FedEx Co. (NYSE:FDX)

Bradley & Co. Private Wealth Management LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 16.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,766 shares of the shipping service provider’s stock after selling 550 shares during the period. FedEx makes up 0.6% of Bradley & Co. Private Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Bradley & Co. Private Wealth Management LLC’s holdings in FedEx were worth $700,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Abbrea Capital LLC grew its holdings in shares of FedEx by 0.6% during the 4th quarter. Abbrea Capital LLC now owns 15,596 shares of the shipping service provider’s stock worth $3,965,000 after purchasing an additional 95 shares in the last quarter. Syon Capital LLC increased its holdings in FedEx by 62.2% in the 4th quarter. Syon Capital LLC now owns 3,932 shares of the shipping service provider’s stock valued at $995,000 after buying an additional 1,508 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of FedEx by 5.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,608 shares of the shipping service provider’s stock valued at $1,419,000 after buying an additional 301 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of FedEx by 2.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,242 shares of the shipping service provider’s stock worth $3,615,000 after acquiring an additional 373 shares during the period. Finally, Carret Asset Management LLC boosted its position in shares of FedEx by 2.8% during the 4th quarter. Carret Asset Management LLC now owns 28,641 shares of the shipping service provider’s stock valued at $7,245,000 after acquiring an additional 787 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. BNP Paribas reissued an “underperform” rating and set a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. Finally, Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Trading Down 0.2 %

FedEx stock traded down $0.55 during mid-day trading on Thursday, hitting $265.52. The stock had a trading volume of 876,084 shares, compared to its average volume of 2,041,564. The stock has a 50-day simple moving average of $261.61 and a two-hundred day simple moving average of $254.44. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $65.34 billion, a PE ratio of 15.31, a P/E/G ratio of 1.28 and a beta of 1.21. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 EPS. As a group, sell-side analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

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

Insider Transactions at FedEx

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

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.