RFG Advisory LLC Sells 390 Shares of FedEx Co. (NYSE:FDX)

RFG Advisory LLC lessened its position in FedEx Co. (NYSE:FDX) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292 shares of the shipping service provider’s stock after selling 390 shares during the period. RFG Advisory LLC’s holdings in FedEx were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its holdings in shares of FedEx by 143.2% during the 4th 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 period. Planned Solutions Inc. bought a new stake in shares of FedEx during the 4th quarter worth about $32,000. Baystate Wealth Management LLC boosted its holdings in shares of FedEx by 60.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock worth $33,000 after buying an additional 50 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of FedEx during the 1st quarter worth about $35,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 1.6 %

Shares of FedEx stock opened at $267.80 on Friday. The firm has a market capitalization of $65.90 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. 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’s 50 day moving average is $256.85 and its 200 day moving average is $254.15. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27.

FedEx (NYSE:FDX) last announced its quarterly 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 firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 EPS. Equities research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its board has approved 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Evercore ISI lifted their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. The Goldman Sachs Group lifted their target price on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James dropped their price objective on shares of FedEx from $279.00 to $275.00 and set an “outperform” rating for the company in a research note on Wednesday, December 20th. Jefferies Financial Group lifted their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, Bank Of America (Bofa) lifted their price objective on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.