FedEx Co. (NYSE:FDX) Stake Reduced by Wrapmanager Inc.

Wrapmanager Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,416 shares of the shipping service provider’s stock after selling 44 shares during the quarter. Wrapmanager Inc.’s holdings in FedEx were worth $358,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the company’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 value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the sale, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Morgan Stanley increased their target price on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Evercore ISI boosted their price target on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group increased their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Trading Up 1.6 %

Shares of FDX traded up $4.05 during midday trading on Thursday, hitting $262.06. The stock had a trading volume of 923,202 shares, compared to its average volume of 1,932,069. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a 50-day simple moving average of $265.29 and a two-hundred day simple moving average of $255.30. 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 firm has a market cap of $64.49 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. As a group, equities analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.92%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

FedEx Company Profile

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.