FedEx Co. (NYSE:FDX) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC cut its position in FedEx Co. (NYSE:FDXFree Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,348 shares of the shipping service provider’s stock after selling 105 shares during the period. Radnor Capital Management LLC’s holdings in FedEx were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sentry LLC acquired a new stake in shares of FedEx in the fourth quarter worth $1,811,748,000. Norges Bank acquired a new stake in FedEx during the 4th quarter worth about $700,291,000. Capital International Investors raised its stake in shares of FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after buying an additional 880,894 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of FedEx by 33,890.5% in the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.5 %

FedEx stock traded up $1.14 during midday trading on Friday, hitting $253.66. 3,145,207 shares of the stock were exchanged, compared to its average volume of 1,151,497. 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 $62.42 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.92 and a beta of 1.16. The stock’s 50-day simple moving average is $256.50 and its 200 day simple moving average is $255.99. FedEx Co. has a fifty-two week low of $224.40 and a fifty-two week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.41 EPS. On average, equities analysts anticipate that FedEx Co. will post 17.76 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 29.07%.

FedEx announced that its Board of Directors has initiated a stock buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on FDX shares. Robert W. Baird upped their price objective on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. UBS Group decreased their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. Barclays raised their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group upped their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $304.21.

View Our Latest Research Report on FedEx

Insider Transactions at FedEx

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 value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred 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 sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Allen sold 10,145 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total value of $2,914,455.60. Following the transaction, the executive vice president now owns 36,853 shares in the company, valued at $10,587,129.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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