FedEx Co. (NYSE:FDX) Shares Sold by UMB Bank n.a.

UMB Bank n.a. reduced its stake in FedEx Co. (NYSE:FDXFree Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,962 shares of the shipping service provider’s stock after selling 419 shares during the period. UMB Bank n.a.’s holdings in FedEx were worth $4,291,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of FedEx during the fourth quarter worth about $32,000. Baystate Wealth Management LLC grew its holdings in shares of FedEx by 60.2% during the second quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. RVW Wealth LLC purchased a new position in shares of FedEx during the third quarter worth about $40,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on FDX. Stephens dropped their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, December 20th. Morgan Stanley raised their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Evercore ISI raised their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Raymond James lowered their price target on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $301.33.

Get Our Latest Report on FDX

Insider Buying and Selling

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 FedEx news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction 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 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. Over the last ninety days, insiders sold 19,393 shares of company stock worth $5,581,475. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Down 1.7 %

FedEx stock opened at $275.33 on Wednesday. The firm has a 50 day simple moving average of $252.00 and a 200-day simple moving average of $253.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $67.75 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27.

FedEx (NYSE:FDXGet Free Report) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during 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 firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

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

About FedEx

(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

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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