FedEx Co. (NYSE:FDX) Shares Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP lifted its stake in FedEx Co. (NYSE:FDXFree Report) by 26.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,679 shares of the shipping service provider’s stock after purchasing an additional 3,079 shares during the quarter. Nicholas Investment Partners LP’s holdings in FedEx were worth $3,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Park Avenue Securities LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $833,000. TD Asset Management Inc boosted its position in FedEx by 0.4% during the 3rd quarter. TD Asset Management Inc now owns 80,023 shares of the shipping service provider’s stock worth $21,200,000 after acquiring an additional 302 shares during the period. Summit Trail Advisors LLC boosted its position in FedEx by 4.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,719 shares of the shipping service provider’s stock worth $724,000 after acquiring an additional 120 shares during the period. Live Oak Investment Partners boosted its position in FedEx by 2.0% during the 3rd quarter. Live Oak Investment Partners now owns 4,730 shares of the shipping service provider’s stock worth $1,253,000 after acquiring an additional 94 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its position in FedEx by 8.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,021 shares of the shipping service provider’s stock worth $535,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FDX shares. Bank of America decreased their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. UBS Group lifted their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI lifted their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group lifted their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus reduced their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $301.33.

Read Our Latest Stock Report on FDX

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 in the last 90 days. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of NYSE:FDX traded up $0.28 during trading on Wednesday, hitting $259.32. 1,145,374 shares of the stock were exchanged, compared to its average volume of 1,922,285. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a market capitalization of $63.81 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. The company’s fifty day simple moving average is $266.54 and its 200-day simple moving average is $256.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

FedEx (NYSE:FDXGet Free Report) last announced 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm earned $3.41 EPS. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 17.7 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared 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 1.94%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is 29.07%.

FedEx announced that its board has authorized a share repurchase program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

FedEx Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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