FedEx Co. (NYSE:FDX) Stock Holdings Lessened by Blume Capital Management Inc.

Blume Capital Management Inc. cut its stake in shares of FedEx Co. (NYSE:FDX) by 0.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 44,863 shares of the shipping service provider’s stock after selling 45 shares during the period. FedEx comprises about 3.0% of Blume Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Blume Capital Management Inc.’s holdings in FedEx were worth $11,349,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KRS Capital Management LLC boosted its holdings in FedEx by 4.1% during the 4th 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. increased its position in FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 42 shares during the period. Toth Financial Advisory Corp increased its position in FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares during the period. SVB Wealth LLC increased its position in FedEx by 2.5% during the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after purchasing an additional 45 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FDX shares. UBS Group upped their price objective on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. TD Cowen upped their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Finally, Evercore ISI upped their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Price Performance

Shares of FDX traded up $2.89 during mid-day trading on Thursday, reaching $260.90. The company had a trading volume of 144,892 shares, compared to its average volume of 1,922,675. The company’s 50 day simple moving average is $265.01 and its 200 day simple moving average is $255.28. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a market capitalization of $64.20 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for 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 for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.41 EPS. Analysts expect that FedEx Co. will post 17.69 EPS for the current year.

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

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 $1.26 dividend. This represents a $5.04 dividend on an annualized basis 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 currently 29.07%.

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.