Mezzasalma Advisors LLC Buys Shares of 750 FedEx Co. (NYSE:FDX)

Mezzasalma Advisors LLC purchased a new position in FedEx Co. (NYSE:FDXFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 750 shares of the shipping service provider’s stock, valued at approximately $217,000.

Other institutional investors have also made changes to their positions in the company. Fortis Group Advisors LLC lifted its position in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter worth $25,000. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. acquired a new position in FedEx in the 4th quarter worth about $30,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE:FDX traded down $4.51 during midday trading on Thursday, reaching $293.71. 1,274,326 shares of the company’s stock were exchanged, compared to its average volume of 2,457,575. The firm has a market capitalization of $72.28 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.09 and a beta of 1.18. The company’s 50 day simple moving average is $259.75 and its two-hundred day simple moving average is $256.75. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $302.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $4.94 earnings per share. Equities research analysts expect that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be issued a $1.38 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.88%. FedEx’s dividend payout ratio is presently 32.04%.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Argus lifted their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Barclays increased their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Evercore ISI reduced their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Bank of America increased their target price on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, TD Cowen boosted their price target on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Check Out Our Latest Research Report on FDX

Insider Activity at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 135,864 shares of company stock valued at $37,677,934 in the last ninety days. Insiders own 8.73% of the company’s stock.

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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