FedEx Co. (NYSE:FDX) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,077 shares of the shipping service provider’s stock after selling 618 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in FedEx were worth $528,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FDX. RB Capital Management LLC boosted its position in FedEx by 3.3% during the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after acquiring an additional 63 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of FedEx by 101.5% in the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after purchasing an additional 2,153 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of FedEx by 7.8% in the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $264.86 on Wednesday. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The company has a market capitalization of $65.18 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s fifty day moving average price is $257.89 and its 200 day moving average price is $254.05.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS. On average, research analysts forecast that FedEx Co. will post 17.67 EPS for the current fiscal year.

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

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated 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 approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were 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 owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock valued at $37,758,773. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FDX shares. Bank of America decreased their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Stifel Nicolaus decreased their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. BMO Capital Markets lifted their price target 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. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Evercore ISI lifted their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.33.

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.