FedEx Co. (NYSE:FDX) Shares Acquired by Olstein Capital Management L.P.

Olstein Capital Management L.P. raised its holdings in shares of FedEx Co. (NYSE:FDX) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,000 shares of the shipping service provider’s stock after acquiring an additional 4,500 shares during the quarter. Olstein Capital Management L.P.’s holdings in FedEx were worth $7,823,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC lifted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. lifted its holdings in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of FedEx in the 4th quarter valued at about $30,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other FedEx news, Director David P. Steiner sold 1,369 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the transaction, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,189 shares of company stock worth $38,046,602. 8.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, BMO Capital Markets upped their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Price Performance

Shares of FDX traded down $4.51 on Wednesday, reaching $293.71. The stock had a trading volume of 1,274,326 shares, compared to its average volume of 1,950,764. The firm has a market capitalization of $72.28 billion, a PE ratio of 17.02, a PEG ratio of 1.10 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average of $259.20 and a 200 day moving average of $256.49. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $302.41.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.94 EPS. Sell-side analysts expect that FedEx Co. will post 20.67 EPS for the current year.

FedEx declared that its Board of Directors has authorized a share repurchase 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 buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders 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 yield of 1.88%. The ex-dividend date is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

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.