Coastline Trust Co Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Coastline Trust Co raised its position in FedEx Co. (NYSE:FDXFree Report) by 84.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,548 shares of the shipping service provider’s stock after acquiring an additional 1,623 shares during the quarter. Coastline Trust Co’s holdings in FedEx were worth $898,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FDX. RB Capital Management LLC increased its position in shares of FedEx by 3.3% in the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 63 shares during the period. AMI Investment Management Inc. increased its position in shares of FedEx by 43.9% during the first quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after buying an additional 4,693 shares during the period. Moors & Cabot Inc. increased its position in shares of FedEx by 101.5% during the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares during the period. Baird Financial Group Inc. increased its position in shares of FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in shares of FedEx by 553.3% during the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays boosted their price target on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. TD Cowen boosted their price target on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Bank Of America (Bofa) upped their price objective on shares of FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $300.85.

Get Our Latest Research Report on FedEx

Insiders Place Their Bets

In other FedEx 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 transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,393 shares of company stock worth $5,581,475. Company insiders own 8.73% of the company’s stock.

FedEx Stock Down 1.7 %

Shares of FedEx stock opened at $275.33 on Wednesday. The company has a market cap of $67.75 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company’s 50 day moving average is $252.00 and its 200 day moving average is $253.00. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. 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 data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’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 firm earned $3.41 earnings per share. Research analysts anticipate that FedEx Co. will post 17.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.83%. FedEx’s payout ratio is presently 29.07%.

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding 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 generally a sign that the company’s board of directors believes its shares are undervalued.

FedEx Company 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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