Carret Asset Management LLC Has $7.25 Million Position in FedEx Co. (NYSE:FDX)

Carret Asset Management LLC increased its position in FedEx Co. (NYSE:FDX) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,641 shares of the shipping service provider’s stock after buying an additional 787 shares during the quarter. FedEx accounts for approximately 0.9% of Carret Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Carret Asset Management LLC’s holdings in FedEx were worth $7,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KRS Capital Management LLC increased its position 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 purchasing an additional 41 shares during the period. Zullo Investment Group Inc. increased its position in FedEx by 0.7% during 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 period. Toth Financial Advisory Corp increased its position in FedEx by 18.0% during 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 period. SVB Wealth LLC increased 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 valued at $456,000 after purchasing an additional 44 shares during the period. Finally, Venturi Wealth Management LLC increased 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 valued at $40,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction dated 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 sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last ninety days. 8.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FDX. Jefferies Financial Group increased their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. The Goldman Sachs Group raised their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. TD Cowen raised their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Evercore ISI raised their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Stock Down 2.1 %

NYSE:FDX traded down $5.65 during trading hours on Wednesday, hitting $266.10. 1,695,666 shares of the company traded hands, compared to its average volume of 2,056,297. 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’s 50-day simple moving average is $260.44 and its 200-day simple moving average is $254.28. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The company has a market cap of $65.48 billion, a PE ratio of 15.67, a PEG ratio of 1.27 and a beta of 1.21.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the business earned $3.41 EPS. The business’s revenue was down 2.1% on a year-over-year basis. Equities analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

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

FedEx Announces Dividend

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