Rakuten Securities Inc. Makes New Investment in FedEx Co. (NYSE:FDX)

Rakuten Securities Inc. purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 117 shares of the shipping service provider’s stock, valued at approximately $30,000.

Several other institutional investors have also made changes to their positions in FDX. Financial Management Professionals Inc. raised its stake in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx in the 4th quarter valued at approximately $31,000. Planned Solutions Inc. bought a new position in shares of FedEx in the 4th quarter valued at approximately $32,000. Valley National Advisers Inc. raised its stake in shares of FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. raised its stake in shares of FedEx by 321.9% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 135 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 103 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. TD Cowen lifted their price target on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. 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 research report on Friday, March 22nd. Bank of America dropped their price target on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

FedEx stock opened at $263.37 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market cap of $64.81 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.24 and a beta of 1.21. The business’s fifty day moving average is $258.74 and its two-hundred day moving average is $254.17. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 earnings per share. Equities research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its board has approved a share buyback 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 reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by corporate 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.