First Citizens Bank & Trust Co. Buys 206 Shares of FedEx Co. (NYSE:FDX)

First Citizens Bank & Trust Co. lifted its position in shares of FedEx Co. (NYSE:FDXFree Report) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,725 shares of the shipping service provider’s stock after purchasing an additional 206 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in FedEx were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of FDX. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 3.4% in the 4th quarter. Ascent Wealth Partners LLC now owns 7,700 shares of the shipping service provider’s stock worth $1,948,000 after acquiring an additional 255 shares during the last quarter. Essex Savings Bank lifted its stake in shares of FedEx by 5.6% during the fourth quarter. Essex Savings Bank now owns 1,403 shares of the shipping service provider’s stock worth $355,000 after buying an additional 75 shares during the period. Parsons Capital Management Inc. RI lifted its holdings in shares of FedEx by 11.7% during the fourth quarter. Parsons Capital Management Inc. RI now owns 2,059 shares of the shipping service provider’s stock worth $521,000 after purchasing an additional 216 shares during the period. Osborne Partners Capital Management LLC lifted its holdings in shares of FedEx by 22.5% in the 4th quarter. Osborne Partners Capital Management LLC now owns 1,245 shares of the shipping service provider’s stock valued at $315,000 after buying an additional 229 shares during the period. Finally, Chicago Capital LLC acquired a new position in shares of FedEx during the 4th quarter worth about $428,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 19,393 shares of company stock valued at $5,581,475 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Down 2.0 %

FDX traded down $5.72 during trading on Tuesday, hitting $274.41. The company had a trading volume of 1,125,801 shares, compared to its average volume of 2,172,256. The company has a market cap of $67.53 billion, a PE ratio of 16.16, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The business has a 50-day moving average of $251.41 and a 200-day moving average of $252.84.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping 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 the consensus estimate of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts forecast that FedEx Co. will post 17.6 earnings per share for the current year.

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

FedEx Announces Dividend

The company also recently disclosed 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 was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analysts Set New Price Targets

Several equities analysts have recently commented on FDX shares. Stifel Nicolaus decreased their price target on FedEx from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Bank Of America (Bofa) boosted their price target on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. The Goldman Sachs Group upped their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Monday, January 8th. Finally, Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.85.

Read Our Latest Stock Report on FedEx

FedEx Company 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.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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