FedEx Co. (NYSE:FDX) Shares Acquired by LSV Asset Management

LSV Asset Management boosted its position in FedEx Co. (NYSE:FDX) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,472,170 shares of the shipping service provider’s stock after purchasing an additional 11,550 shares during the quarter. FedEx comprises about 0.8% of LSV Asset Management’s holdings, making the stock its 24th largest position. LSV Asset Management’s holdings in FedEx were worth $372,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Rakuten Securities Inc. acquired a new position in FedEx in the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners purchased a new position in shares of FedEx during the 4th quarter worth $31,000. Planned Solutions Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. grew its position in shares of FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. BNP Paribas reissued an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Stifel Nicolaus lowered their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Evercore ISI boosted their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Bank of America cut their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Down 0.5 %

NYSE FDX traded down $1.38 during mid-day trading on Friday, reaching $260.65. 1,085,243 shares of the company’s stock traded hands, compared to its average volume of 1,311,143. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a fifty day simple moving average of $264.27 and a 200-day simple moving average of $254.90. The company has a market cap of $64.14 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The business 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 was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 17.69 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx declared that its Board of Directors has initiated a stock 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 buy up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx 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 completion of the transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 over the last three months. 8.73% of the stock is owned by 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.