Larson Financial Group LLC Purchases 1,682 Shares of FedEx Co. (NYSE:FDX)

Larson Financial Group LLC lifted its position in FedEx Co. (NYSE:FDX) by 109.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,221 shares of the shipping service provider’s stock after buying an additional 1,682 shares during the quarter. Larson Financial Group LLC’s holdings in FedEx were worth $815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. Illinois Municipal Retirement Fund lifted its holdings in shares of FedEx by 11.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 51,306 shares of the shipping service provider’s stock worth $12,979,000 after buying an additional 5,188 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of FedEx by 1.8% during the fourth quarter. California Public Employees Retirement System now owns 444,604 shares of the shipping service provider’s stock worth $112,471,000 after purchasing an additional 7,856 shares during the last quarter. RWA Wealth Partners LLC grew its holdings in shares of FedEx by 572.4% during the fourth quarter. RWA Wealth Partners LLC now owns 77,463 shares of the shipping service provider’s stock worth $19,596,000 after purchasing an additional 65,942 shares during the last quarter. Sentry LLC bought a new stake in shares of FedEx during the fourth quarter worth about $1,811,748,000. Finally, Mengis Capital Management Inc. grew its holdings in shares of FedEx by 0.5% during the fourth quarter. Mengis Capital Management Inc. now owns 10,105 shares of the shipping service provider’s stock worth $2,556,000 after purchasing an additional 50 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FDX stock traded up $2.23 during mid-day trading on Tuesday, reaching $272.38. 427,185 shares of the company traded hands, compared to its average volume of 2,050,853. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $67.03 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.26 and a beta of 1.21. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a fifty day moving average price of $259.74 and a 200-day moving average price of $254.18.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during 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 company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx declared that its board has initiated a stock buyback plan 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 repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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 given a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.85%. FedEx’s payout ratio is 29.07%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred 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 completion of the transaction, the vice president now directly 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 worth $37,758,773 in the last quarter. 8.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on FDX shares. Morgan Stanley boosted their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Evercore ISI upped their target price on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group upped their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, UBS Group upped their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx 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.