FedEx Co. (NYSE:FDX) Shares Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC increased its position in FedEx Co. (NYSE:FDX) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,951 shares of the shipping service provider’s stock after buying an additional 337 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in FedEx were worth $747,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. KRS Capital Management LLC boosted its position in shares of 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 in the last quarter. Zullo Investment Group Inc. grew its position in FedEx by 0.7% in 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 last quarter. Toth Financial Advisory Corp increased its holdings in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after buying an additional 44 shares in the last quarter. SVB Wealth LLC boosted its stake in shares of 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 in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of FedEx by 42.5% in 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 own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FDX shares. Robert W. Baird increased their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Evercore ISI lifted their target price on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. TD Cowen increased their price target 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, The Goldman Sachs Group boosted their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

NYSE:FDX traded down $1.46 during trading hours on Wednesday, hitting $258.01. 1,451,257 shares of the company traded hands, compared to its average volume of 1,943,395. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $63.49 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.23 and a beta of 1.23. The firm has a 50-day moving average of $265.01 and a 200 day moving average of $255.28. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX) last released its earnings results 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 net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company earned $3.41 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.95%. FedEx’s dividend payout ratio is currently 29.07%.

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