Hyman Charles D Purchases 1,400 Shares of FedEx Co. (NYSE:FDX)

Hyman Charles D raised its holdings in shares of FedEx Co. (NYSE:FDX) by 15.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,405 shares of the shipping service provider’s stock after acquiring an additional 1,400 shares during the quarter. Hyman Charles D’s holdings in FedEx were worth $2,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Advisory Inc. increased its position in shares of FedEx by 15.5% in the third quarter. Brown Advisory Inc. now owns 26,279 shares of the shipping service provider’s stock valued at $6,962,000 after acquiring an additional 3,534 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of FedEx by 5.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,394 shares of the shipping service provider’s stock worth $369,000 after purchasing an additional 75 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of FedEx by 37.2% during the 3rd quarter. Mackenzie Financial Corp now owns 137,602 shares of the shipping service provider’s stock worth $35,803,000 after purchasing an additional 37,338 shares in the last quarter. Brighton Jones LLC grew its stake in shares of FedEx by 12.2% in the third quarter. Brighton Jones LLC now owns 1,697 shares of the shipping service provider’s stock valued at $450,000 after buying an additional 184 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in FedEx by 6.4% during the third quarter. IFM Investors Pty Ltd now owns 49,026 shares of the shipping service provider’s stock worth $12,988,000 after acquiring an additional 2,930 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. UBS Group lifted their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI increased their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chairman now owns 14,505,844 shares in the company, 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 worth $37,758,773 in the last quarter. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Down 0.3 %

Shares of FedEx stock traded down $0.82 on Tuesday, hitting $259.47. The company had a trading volume of 1,348,933 shares, compared to its average volume of 1,948,964. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a 50 day moving average of $265.01 and a 200-day moving average of $255.28. The stock has a market capitalization of $63.85 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business 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 company earned $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued 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 1.94%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx announced that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.