Twin Capital Management Inc. Sells 84 Shares of FedEx Co. (NYSE:FDX)

Twin Capital Management Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,371 shares of the shipping service provider’s stock after selling 84 shares during the quarter. Twin Capital Management Inc.’s holdings in FedEx were worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Financial Management Professionals Inc. grew its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $30,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of FedEx during the fourth quarter worth about $31,000. Planned Solutions Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $32,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of FedEx by 123.3% during the fourth 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 during the period. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Jefferies Financial Group raised their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Monday, January 8th. Finally, Stifel Nicolaus lowered their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

FedEx Trading Up 0.1 %

NYSE:FDX opened at $263.37 on Friday. 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 12 month low of $213.80 and a 12 month high of $291.27. The company has a market cap of $64.81 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. The company has a 50 day simple moving average of $258.74 and a two-hundred day simple moving average of $254.17.

FedEx (NYSE:FDX) last issued 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. The business had revenue of $21.70 billion for 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 company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.41 EPS. Research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

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

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.