WESCAP Management Group Inc. Sells 642 Shares of FedEx Co. (NYSE:FDX)

WESCAP Management Group Inc. lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,692 shares of the shipping service provider’s stock after selling 642 shares during the quarter. WESCAP Management Group Inc.’s holdings in FedEx were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Financial Management Professionals Inc. raised 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 valued at $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. bought a new position in FedEx in the 4th quarter worth $30,000. Tennessee Valley Asset Management Partners bought a new position in FedEx in the 4th quarter worth $31,000. Planned Solutions Inc. bought a new position in FedEx in the 4th quarter worth $32,000. Finally, Valley National Advisers Inc. raised its holdings in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 74 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’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 transaction of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’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 transaction of $31,105,620.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX stock traded down $1.38 during trading hours on Friday, reaching $260.65. 1,085,243 shares of the company were exchanged, compared to its average volume of 1,311,143. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The stock’s fifty day moving average is $264.27 and its two-hundred day moving average is $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. 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 (NYSE:FDX) last announced its 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. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the business earned $3.41 earnings per share. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The business also recently announced 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 1.93%. FedEx’s payout ratio is 29.07%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FDX. Jefferies Financial Group lifted their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” 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. Barclays lifted their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their price objective on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Robert W. Baird boosted their price objective on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx 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.