Bigelow Investment Advisors LLC Has $673,000 Holdings in FedEx Co. (NYSE:FDX)

Bigelow Investment Advisors LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,662 shares of the shipping service provider’s stock after selling 83 shares during the period. Bigelow Investment Advisors LLC’s holdings in FedEx were worth $673,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in FedEx during the 4th quarter worth $388,787,000. Mizuho Markets Americas LLC bought a new position in shares of FedEx in the 3rd quarter worth about $496,611,000. FMR LLC raised its position in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after acquiring an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of FedEx by 144.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $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.

FedEx Price Performance

Shares of FedEx stock traded up $3.62 during trading on Friday, hitting $266.99. The stock had a trading volume of 1,739,117 shares, compared to its average volume of 2,081,102. The firm has a market cap of $65.70 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 1.24 and a beta of 1.21. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The business’s 50-day moving average is $258.74 and its 200 day moving average is $254.17. 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 (NYSE:FDX) last released its quarterly 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 firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx announced that its board has initiated a stock 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 repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’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 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 is accessible through this link. Also, 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 owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Barclays raised their target price 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 upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Monday, January 8th. BMO Capital Markets boosted their target price on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Evercore ISI boosted their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $301.33.

FedEx Company 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.