2,479 Shares in FedEx Co. (NYSE:FDX) Bought by Founders Financial Securities LLC

Founders Financial Securities LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,479 shares of the shipping service provider’s stock, valued at approximately $718,000.

Several other institutional investors have also added to or reduced their stakes in FDX. Crossmark Global Holdings Inc. grew its position in FedEx by 20.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Western Wealth Management LLC grew its holdings in shares of FedEx by 10.0% during the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after buying an additional 333 shares during the last quarter. Trust Point Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $282,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter worth about $32,000. Finally, EFG Asset Management North America Corp. lifted its position in FedEx by 173.2% during the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after acquiring an additional 4,831 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.5 %

FDX stock traded up $4.37 during mid-day trading on Friday, hitting $299.84. 4,278,920 shares of the company were exchanged, compared to its average volume of 2,248,979. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41. The firm has a market capitalization of $73.78 billion, a P/E ratio of 17.40, a PEG ratio of 1.10 and a beta of 1.16. The business has a fifty day simple moving average of $258.10 and a 200-day simple moving average of $256.36. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the business posted $4.94 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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 paid a $1.38 dividend. The ex-dividend date is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s payout ratio is presently 32.04%.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’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 directly 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. In the last 90 days, insiders have sold 119,810 shares of company stock worth $32,924,413. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of several research reports. Morgan Stanley increased their price target on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday. BMO Capital Markets boosted their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Jefferies Financial Group increased their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. TD Cowen boosted their price objective on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $296.00 to $359.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.00.

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.