Syon Capital LLC Buys 1,508 Shares of FedEx Co. (NYSE:FDX)

Syon Capital LLC raised its stake in FedEx Co. (NYSE:FDX) by 62.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,932 shares of the shipping service provider’s stock after acquiring an additional 1,508 shares during the quarter. Syon Capital LLC’s holdings in FedEx were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FDX. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Western Wealth Management LLC lifted its stake in shares of FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after buying an additional 333 shares in the last quarter. Trust Point Inc. bought a new position in FedEx in the 4th quarter worth approximately $282,000. Planned Solutions Inc. purchased a new position in FedEx in the 4th quarter valued at approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of FedEx by 2.3% during the third 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 in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.2 %

Shares of FedEx stock traded down $0.55 during midday trading on Thursday, reaching $265.52. 876,102 shares of the company’s stock traded hands, compared to its average volume of 2,041,564. The company has a market cap of $65.34 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. The stock has a 50 day moving average of $261.03 and a 200-day moving average of $254.36. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. 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:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the company posted $3.41 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

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

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

Analyst Ratings Changes

A number of research firms recently issued reports on FDX. Barclays boosted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Morgan Stanley raised their target price on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Monday, January 8th. Jefferies Financial Group raised their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Finally, Robert W. Baird upped their target price on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $301.33.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’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 approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last quarter. 8.73% of the stock is owned by company insiders.

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.