Wealthspire Advisors LLC Boosts Stock Position in FedEx Co. (NYSE:FDX)

Wealthspire Advisors LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 18.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,129 shares of the shipping service provider’s stock after acquiring an additional 946 shares during the quarter. Wealthspire Advisors LLC’s holdings in FedEx were worth $1,550,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FDX. Financial Management Professionals Inc. grew its holdings 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 purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx in the fourth quarter valued at $31,000. Planned Solutions Inc. purchased a new position in FedEx in the fourth quarter valued at $32,000. Finally, Valley National Advisers Inc. grew its stake in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the 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 sale, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last 90 days. 8.73% of the stock is currently owned by insiders.

FedEx Price Performance

Shares of NYSE:FDX traded up $4.05 on Thursday, reaching $262.06. 923,202 shares of the company were exchanged, compared to its average volume of 1,932,069. 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 50-day moving average of $265.29 and a 200-day moving average of $255.30. The firm has a market cap of $64.49 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23.

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

FedEx declared that its Board of Directors has authorized a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FDX. Barclays lifted 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 increased their price objective on shares of 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 shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group increased their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets lifted their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.33.

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.