WESCAP Management Group Inc. Decreases Stake in FedEx Co. (NYSE:FDX)

WESCAP Management Group Inc. lessened its stake in FedEx Co. (NYSE:FDX) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,692 shares of the shipping service provider’s stock after selling 642 shares during the quarter. WESCAP Management Group Inc.’s holdings in FedEx were worth $428,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FDX. KRS Capital Management LLC increased its stake in shares of FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. lifted its stake in shares of FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC lifted its position in FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after acquiring an additional 44 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in FedEx by 42.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FDX shares. Jefferies Financial Group boosted their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets increased their price objective 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. Morgan Stanley increased their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $301.33.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on 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 sale, the chairman now directly 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 Securities & Exchange Commission, which is available at the SEC website. In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

FedEx Price Performance

FDX stock traded down $1.38 during mid-day trading on Friday, hitting $260.65. The stock had a trading volume of 1,085,243 shares, compared to its average volume of 1,311,143. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The firm has a market capitalization of $64.14 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23. The firm has a fifty day simple moving average of $264.27 and a 200 day simple moving average of $254.90.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS 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 analyst estimates of $21.95 billion. During the same period last year, the firm earned $3.41 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx declared that its Board of Directors has initiated a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.