NewEdge Wealth LLC Buys 561 Shares of FedEx Co. (NYSE:FDX)

NewEdge Wealth LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 24.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,827 shares of the shipping service provider’s stock after purchasing an additional 561 shares during the period. NewEdge Wealth LLC’s holdings in FedEx were worth $715,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FedEx by 11.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Trust Point Inc. acquired a new stake in FedEx during the 4th quarter worth about $282,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter worth about $32,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after acquiring an additional 13,642 shares during the period. Finally, Skba Capital Management LLC grew its holdings in FedEx by 0.3% during the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after acquiring an additional 100 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.7 %

Shares of FDX stock opened at $264.86 on Wednesday. The company’s fifty day simple moving average is $257.89 and its two-hundred day simple moving average is $254.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The stock has a market capitalization of $65.18 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during 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 business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Bank Of America (Bofa) increased their price target on FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Evercore ISI raised their target price on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

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.