Accent Capital Management LLC Purchases New Holdings in FedEx Co. (NYSE:FDX)

Accent Capital Management LLC purchased a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,150 shares of the shipping service provider’s stock, valued at approximately $291,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC increased its position in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in FedEx during the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. increased its position in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new position in FedEx during the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new position in FedEx during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction 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 completion of the sale, 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 related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction 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 directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on 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 completion of the sale, 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 sold a total of 136,668 shares of company stock worth $37,758,773 in the last ninety days. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America decreased their price target on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Evercore ISI boosted their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. BNP Paribas reissued an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Morgan Stanley boosted their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Finally, UBS Group decreased their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.92.

FedEx Trading Up 1.5 %

Shares of FedEx stock traded up $3.63 during trading hours on Monday, reaching $250.06. 1,205,559 shares of the company’s stock were exchanged, compared to its average volume of 1,796,743. FedEx Co. has a 52-week low of $223.24 and a 52-week high of $291.27. The firm has a market capitalization of $61.53 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The company has a fifty day moving average of $258.19 and a 200-day moving average of $256.34. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 EPS. Sell-side analysts forecast that FedEx Co. will post 17.76 EPS for the current fiscal year.

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

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.21%. 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 is presently 29.07%.

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.