Bryn Mawr Capital Management LLC Has $362,000 Stake in FedEx Co. (NYSE:FDX)

Bryn Mawr Capital Management LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 70.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,432 shares of the shipping service provider’s stock after selling 3,430 shares during the period. Bryn Mawr Capital Management LLC’s holdings in FedEx were worth $362,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FedEx by 11.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Western Wealth Management LLC boosted its stake in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares during the last quarter. Trust Point Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $282,000. Planned Solutions Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after buying an additional 13,642 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets lifted their price target 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. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Jefferies Financial Group boosted their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 in the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.1 %

FDX opened at $265.84 on Friday. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $262.17 and its 200-day moving average price is $254.49. The company has a market cap of $65.42 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. On average, equities analysts expect that FedEx Co. will post 17.69 EPS for the current year.

FedEx Announces Dividend

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

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

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.