Savant Capital LLC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Savant Capital LLC increased its position in FedEx Co. (NYSE:FDX) by 26.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,067 shares of the shipping service provider’s stock after buying an additional 2,282 shares during the period. Savant Capital LLC’s holdings in FedEx were worth $2,800,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. KRS Capital Management LLC boosted its position in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Zullo Investment Group Inc. boosted its position in FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares in the last quarter. Toth Financial Advisory Corp grew its stake in FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC grew its stake in FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after purchasing an additional 44 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Frederick W. Smith sold 113,400 shares of the 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 transaction, the chairman now directly 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 at this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction 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 owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 over the last ninety days. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $260.75 on Thursday. 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 stock has a market capitalization of $64.17 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.23 and a beta of 1.23. The firm’s 50 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.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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 the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.41 earnings per share. Analysts expect that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its Board of Directors has approved a share repurchase 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 buy up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 dividend yield of 1.93%. FedEx’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FDX. Bank of America lowered their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. The Goldman Sachs Group increased their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays raised their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

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.