FedEx Co. (NYSE:FDX) Shares Acquired by F&V Capital Management LLC

F&V Capital Management LLC raised its stake in FedEx Co. (NYSE:FDX) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,572 shares of the shipping service provider’s stock after purchasing an additional 2,825 shares during the period. FedEx accounts for 5.3% of F&V Capital Management LLC’s holdings, making the stock its 5th biggest holding. F&V Capital Management LLC’s holdings in FedEx were worth $17,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Clearbridge Investments LLC increased its holdings in shares of FedEx by 19.6% during the third quarter. Clearbridge Investments LLC now owns 5,065 shares of the shipping service provider’s stock valued at $1,342,000 after acquiring an additional 830 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in FedEx by 46.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,437 shares of the shipping service provider’s stock valued at $1,175,000 after purchasing an additional 1,415 shares in the last quarter. Natixis Advisors L.P. raised its holdings in FedEx by 31.5% during the third quarter. Natixis Advisors L.P. now owns 116,548 shares of the shipping service provider’s stock worth $30,876,000 after buying an additional 27,934 shares during the last quarter. Operose Advisors LLC bought a new position in shares of FedEx in the third quarter valued at $52,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of FedEx by 70.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after acquiring an additional 5,003 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday. The Goldman Sachs Group lifted their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. Finally, Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.88.

FedEx Stock Performance

Shares of FDX traded up $39.81 during trading hours on Wednesday, hitting $296.19. The company’s stock had a trading volume of 11,116,236 shares, compared to its average volume of 1,917,038. The business has a 50 day simple moving average of $256.13 and a two-hundred day simple moving average of $255.72. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $296.86. 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 company has a market cap of $72.89 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.93 and a beta of 1.16.

FedEx (NYSE:FDX) 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 business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.86%. FedEx’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.94 EPS. On average, equities analysts expect that FedEx Co. will post 20.26 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.86%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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

Insider Buying and Selling at FedEx

In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on 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 owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark R. Allen sold 10,145 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $287.28, for a total value of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares in the company, valued at approximately $10,587,129.84. The disclosure for this sale can be found here. Insiders sold 127,774 shares of company stock valued at $35,194,126 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

About FedEx

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.