Raab & Moskowitz Asset Management LLC Sells 343 Shares of FedEx Co. (NYSE:FDX)

Raab & Moskowitz Asset Management LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 26.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 934 shares of the shipping service provider’s stock after selling 343 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in FedEx were worth $236,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its stake 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 worth $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of FedEx in the 4th quarter worth approximately $30,000. Tennessee Valley Asset Management Partners bought a new stake in shares of FedEx in the 4th quarter worth approximately $31,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter valued at $32,000. Finally, Valley National Advisers Inc. raised its holdings in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last three months. 8.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. TD Cowen upped their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. UBS Group increased their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Finally, Morgan Stanley lifted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Stock Up 0.1 %

Shares of NYSE FDX traded up $0.32 on Friday, hitting $265.84. The company had a trading volume of 958,876 shares, compared to its average volume of 1,517,622. The firm has a market capitalization of $65.42 billion, a P/E ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. 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 business has a 50 day moving average of $262.17 and a two-hundred day moving average of $254.51.

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

FedEx declared that its board has initiated a share buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

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.