Certuity LLC Buys Shares of 1,345 FedEx Co. (NYSE:FDX)

Certuity LLC bought a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,345 shares of the shipping service provider’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% in 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 in the last quarter. Rakuten Securities Inc. bought a new position in FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx in the fourth quarter valued at $31,000. Planned Solutions Inc. purchased a new stake in shares of FedEx in the fourth quarter worth approximately $32,000. Finally, Valley National Advisers Inc. raised its position in 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 buying an additional 74 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred 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 directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the 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 owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’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 transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

FDX stock opened at $260.75 on Thursday. The company’s fifty day simple moving average is $263.57 and its 200 day simple moving average is $254.76. 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 firm has a market cap of $64.17 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (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 analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 EPS. On average, analysts expect that FedEx Co. will post 17.69 earnings per share for the current year.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. TD Cowen boosted their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. UBS Group upped their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Robert W. Baird increased their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Barclays upped their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.