FedEx Co. (NYSE:FDX) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its position in FedEx Co. (NYSE:FDX) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,482 shares of the shipping service provider’s stock after acquiring an additional 360 shares during the period. Apollon Wealth Management LLC’s holdings in FedEx were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Sentry LLC purchased a new stake in FedEx in the 4th quarter valued at about $1,811,748,000. Mizuho Markets Americas LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $496,611,000. FMR LLC grew its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the period. International Assets Investment Management LLC increased its holdings in shares of FedEx by 33,890.5% during the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of FedEx by 144.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after buying an additional 595,628 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were 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 in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, 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 worth $37,758,773 over the last 90 days. Insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on FDX. Stifel Nicolaus lowered their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. BNP Paribas reiterated an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. BMO Capital Markets raised their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Finally, Robert W. Baird upped their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Price Performance

FDX opened at $262.06 on Friday. The company has a market capitalization of $64.49 billion, a P/E ratio of 15.11, a PEG ratio of 1.23 and a beta of 1.23. The company has a 50-day moving average of $265.29 and a 200-day moving average of $255.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27.

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

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

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.