Syon Capital LLC Purchases 1,508 Shares of FedEx Co. (NYSE:FDX)

Syon Capital LLC increased its position in FedEx Co. (NYSE:FDX) by 62.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,932 shares of the shipping service provider’s stock after buying an additional 1,508 shares during the period. Syon Capital LLC’s holdings in FedEx were worth $995,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FDX. Sentry LLC bought a new position in FedEx in the 4th quarter worth $1,811,748,000. Norges Bank bought a new position in shares of FedEx during the 4th quarter valued at about $700,291,000. FMR LLC boosted its holdings 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 purchasing an additional 916,555 shares during the last quarter. Capital International Investors boosted its holdings in shares of FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.9 %

Shares of NYSE FDX traded down $2.17 during midday trading on Friday, reaching $246.43. 1,245,761 shares of the company’s stock traded hands, compared to its average volume of 1,204,820. 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 stock’s 50 day simple moving average is $258.70 and its 200-day simple moving average is $256.36. FedEx Co. has a one year low of $223.24 and a one year high of $291.27. The company has a market cap of $60.64 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 0.90 and a beta of 1.16.

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, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 17.76 EPS for the current fiscal year.

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

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.24%. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is 29.07%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction 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 $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. 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 three months. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FDX shares. BMO Capital Markets increased their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Bank of America decreased their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company began coverage on shares of FedEx in a research report on Friday, June 7th. They set an “equal weight” rating and a $275.00 target price on the stock. Finally, BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.92.

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.