FedEx Co. (NYSE:FDX) Shares Bought by Founders Capital Management LLC

Founders Capital Management LLC grew its position in FedEx Co. (NYSE:FDXFree Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,216 shares of the shipping service provider’s stock after buying an additional 699 shares during the quarter. FedEx makes up approximately 3.8% of Founders Capital Management LLC’s portfolio, making the stock its 5th largest position. Founders Capital Management LLC’s holdings in FedEx were worth $18,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter worth approximately $388,787,000. Mizuho Markets Americas LLC bought a new position in FedEx during the third quarter valued at approximately $496,611,000. FMR LLC raised its position in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Marshall Wace LLP raised its position in FedEx by 2,602.9% during the second quarter. Marshall Wace LLP now owns 608,210 shares of the shipping service provider’s stock valued at $150,775,000 after acquiring an additional 632,510 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in FedEx by 144.4% during the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after acquiring an additional 595,628 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders sold 19,393 shares of company stock valued at $5,581,475 over the last ninety days. 8.73% of the stock is owned by insiders.

FedEx Price Performance

Shares of NYSE:FDX traded down $4.80 on Tuesday, hitting $275.33. The stock had a trading volume of 2,515,431 shares, compared to its average volume of 2,194,805. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm’s 50 day moving average price is $252.00 and its 200-day moving average price is $253.00. The company has a market capitalization of $67.75 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the business posted $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 17.6 earnings per share for the current year.

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

FedEx Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.83%. FedEx’s dividend payout ratio is 29.07%.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. Stifel Nicolaus cut their price objective on shares of FedEx from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Stephens cut their price objective on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Finally, 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 research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.85.

View Our Latest Report on FDX

FedEx 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.

See Also

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.