FineMark National Bank & Trust Purchases 415 Shares of FedEx Co. (NYSE:FDX)

FineMark National Bank & Trust increased its position in FedEx Co. (NYSE:FDX) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,666 shares of the shipping service provider’s stock after acquiring an additional 415 shares during the quarter. FineMark National Bank & Trust’s holdings in FedEx were worth $927,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Commerce Bank increased its stake in shares of FedEx by 8.4% in the fourth quarter. Commerce Bank now owns 21,512 shares of the shipping service provider’s stock valued at $5,442,000 after buying an additional 1,670 shares during the period. US Bancorp DE boosted its holdings in FedEx by 3.6% in the fourth quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after acquiring an additional 3,955 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in FedEx by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after purchasing an additional 2,051 shares during the period. Enterprise Financial Services Corp bought a new position in FedEx during the 4th quarter worth approximately $208,000. Finally, InterOcean Capital Group LLC lifted its position in shares of FedEx by 19.7% in the 4th quarter. InterOcean Capital Group LLC now owns 99,877 shares of the shipping service provider’s stock worth $25,266,000 after purchasing an additional 16,418 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred 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 directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares of the company’s stock, valued at $23,542,999.36. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FedEx stock traded down $1.70 during trading on Friday, hitting $247.59. The stock had a trading volume of 1,096,590 shares, compared to its average volume of 1,253,289. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $266.81 and its two-hundred day moving average is $256.68. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The stock has a market cap of $60.93 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the company earned $3.41 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its board has approved a share buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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 research note on Friday, March 22nd. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI raised their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Barclays raised their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. One 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.74.

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.