First National Trust Co Decreases Stock Position in FedEx Co. (NYSE:FDX)

First National Trust Co lowered its stake in FedEx Co. (NYSE:FDX) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,440 shares of the shipping service provider’s stock after selling 3,243 shares during the period. First National Trust Co’s holdings in FedEx were worth $6,941,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. Brookstone Capital Management increased its holdings in shares of FedEx by 9.3% in the third quarter. Brookstone Capital Management now owns 4,897 shares of the shipping service provider’s stock worth $1,192,000 after buying an additional 415 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in FedEx by 26.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,216 shares of the shipping service provider’s stock valued at $13,833,000 after purchasing an additional 10,799 shares during the period. FinTrust Capital Advisors LLC increased its holdings in FedEx by 19.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 754 shares of the shipping service provider’s stock valued at $200,000 after purchasing an additional 122 shares during the period. Stratos Wealth Partners LTD. increased its holdings in FedEx by 12.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,057 shares of the shipping service provider’s stock valued at $3,459,000 after purchasing an additional 1,482 shares during the period. Finally, Independent Advisor Alliance increased its holdings in FedEx by 65.2% during the 3rd quarter. Independent Advisor Alliance now owns 13,428 shares of the shipping service provider’s stock valued at $3,557,000 after purchasing an additional 5,300 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX traded down $1.38 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 quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $264.27 and a 200-day simple moving average of $254.90. The firm has a market cap of $64.14 billion, a PE ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $3.41 earnings per share. Equities research analysts forecast that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx announced that its board has authorized a stock buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

FedEx Dividend Announcement

The company also recently disclosed 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 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%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $31,105,620.00. Following the transaction, the chairman now 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 quarter, insiders sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDX shares. Robert W. Baird boosted their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Morgan Stanley lifted their price objective on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. UBS Group lifted their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Jefferies Financial Group lifted their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $301.33.

About FedEx

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.