FedEx Co. (NYSE:FDX) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. trimmed its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,832 shares of the shipping service provider’s stock after selling 1,110 shares during the period. Benjamin Edwards Inc.’s holdings in FedEx were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares during the period. Western Wealth Management LLC increased its stake in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. acquired a new position in FedEx in the 4th quarter worth about $282,000. Planned Solutions Inc. acquired a new stake in FedEx in the fourth quarter valued at approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FedEx by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after buying an additional 13,642 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Down 0.5 %

NYSE FDX traded down $1.37 during trading hours on Friday, hitting $260.66. 1,085,097 shares of the company were exchanged, compared to its average volume of 1,967,710. The company has a 50 day moving average of $263.93 and a two-hundred day moving average of $254.81. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $64.14 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.23 and a beta of 1.23. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company earned $3.41 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. FedEx’s payout ratio is 29.07%.

FedEx declared that its board has authorized a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding 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 often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Barclays increased their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Monday, January 8th. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

View Our Latest Analysis on FedEx

Insider Buying and Selling at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the 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 of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by insiders.

FedEx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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