FedEx Co. (NYSE:FDX) Shares Acquired by German American Bancorp Inc.

German American Bancorp Inc. increased its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,542 shares of the shipping service provider’s stock after acquiring an additional 250 shares during the period. German American Bancorp Inc.’s holdings in FedEx were worth $5,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. grew its holdings in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of FedEx during the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of FedEx during the fourth quarter worth about $30,000. Tennessee Valley Asset Management Partners purchased a new position in shares of FedEx during the fourth quarter worth about $31,000. Finally, Planned Solutions Inc. purchased a new position in shares of FedEx during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.6 %

Shares of NYSE:FDX traded down $1.53 during trading on Friday, reaching $257.25. The stock had a trading volume of 1,419,700 shares, compared to its average volume of 1,270,371. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a fifty day moving average price of $267.12 and a 200-day moving average price of $256.45. The stock has a market cap of $63.30 billion, a P/E ratio of 14.83, a PEG ratio of 1.22 and a beta of 1.23. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.7 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction 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 90 days. 8.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Evercore ISI lifted their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, TD Cowen lifted their price objective on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Check Out Our Latest Stock Report on FDX

About FedEx

(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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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