CRA Financial Services LLC Sells 130 Shares of FedEx Co. (NYSE:FDX)

CRA Financial Services LLC lessened its stake in FedEx Co. (NYSE:FDX) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,450 shares of the shipping service provider’s stock after selling 130 shares during the quarter. CRA Financial Services LLC’s holdings in FedEx were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FDX. Grimes & Company Inc. purchased a new position in FedEx in the 1st quarter valued at approximately $222,000. Hennion & Walsh Asset Management Inc. grew its stake in FedEx by 20.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock valued at $1,322,000 after buying an additional 785 shares in the last quarter. Asio Capital LLC grew its stake in FedEx by 1.3% in the 1st quarter. Asio Capital LLC now owns 30,741 shares of the shipping service provider’s stock valued at $8,945,000 after buying an additional 406 shares in the last quarter. Tevis Investment Management grew its stake in FedEx by 43.5% in the 1st quarter. Tevis Investment Management now owns 1,340 shares of the shipping service provider’s stock valued at $388,000 after buying an additional 406 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of FedEx during the 1st quarter valued at $277,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FDX. Argus boosted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $296.00 to $359.00 in a research report on Wednesday. Finally, BNP Paribas restated an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given 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 $314.00.

FedEx Trading Up 1.5 %

FedEx stock traded up $4.37 during mid-day trading on Friday, hitting $299.84. The company’s stock had a trading volume of 4,278,920 shares, compared to its average volume of 2,248,979. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The business has a 50 day moving average price of $258.10 and a 200-day moving average price of $256.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $302.41.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.94 earnings per share. As a group, analysts forecast that FedEx Co. will post 20.51 EPS for the current year.

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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio is 32.04%.

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

Insider Activity

In related news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,810 shares of company stock valued at $32,924,413. Insiders own 8.73% of the company’s stock.

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.