Kavar Capital Partners Group LLC Has $2.67 Million Position in FedEx Co. (NYSE:FDX)

Kavar Capital Partners Group LLC cut its holdings in shares of FedEx Co. (NYSE:FDX – Get Rating) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 15,396 shares of the shipping service provider’s stock after selling 339 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in FedEx were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RB Capital Management LLC lifted its position in shares of FedEx by 3.3% during the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after buying an additional 63 shares during the last quarter. AMI Investment Management Inc. grew its stake in FedEx by 43.9% during the first quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock worth $3,560,000 after purchasing an additional 4,693 shares during the period. Moors & Cabot Inc. grew its stake in FedEx by 101.5% during the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock worth $989,000 after purchasing an additional 2,153 shares during the period. Baird Financial Group Inc. grew its stake in FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock worth $34,408,000 after purchasing an additional 10,731 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after acquiring an additional 332 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on FedEx from $250.00 to $258.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Argus raised their target price on FedEx from $200.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Evercore ISI raised their target price on FedEx from $196.00 to $234.00 and gave the stock an “outperform” rating in a research report on Monday, February 27th. StockNews.com initiated coverage on FedEx in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Loop Capital lifted their price target on FedEx from $241.00 to $263.00 in a research report on Thursday, April 6th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $243.81.

FedEx Stock Up 0.1 %

Shares of FDX stock traded up $0.22 during midday trading on Friday, reaching $225.30. 400,416 shares of the stock were exchanged, compared to its average volume of 1,927,277. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $248.76. The company’s 50 day moving average is $226.40 and its two-hundred day moving average is $201.31. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. The firm has a market cap of $56.63 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

FedEx (NYSE:FDX – Get Rating) last posted its earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The firm had revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.74 billion. During the same quarter in the prior year, the business earned $4.59 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts predict that FedEx Co. will post 14.8 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, June 9th. This is a positive change from FedEx’s previous quarterly dividend of $1.15. FedEx’s dividend payout ratio (DPR) is 39.72%.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,750 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $232.08, for a total transaction of $406,140.00. Following the completion of the transaction, the executive vice president now owns 14,616 shares of the company’s stock, valued at approximately $3,392,081.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other FedEx news, EVP Brie Carere sold 1,750 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $232.08, for a total transaction of $406,140.00. Following the sale, the executive vice president now directly owns 14,616 shares in the company, valued at approximately $3,392,081.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane bought 830 shares of the business’s stock in a transaction on Thursday, April 6th. The shares were acquired at an average price of $232.88 per share, for a total transaction of $193,290.40. Following the completion of the purchase, the director now owns 2,359 shares in the company, valued at approximately $549,363.92. The disclosure for this purchase can be found here. Insiders sold a total of 146,486 shares of company stock valued at $34,001,009 in the last 90 days. Corporate insiders own 8.62% of the company’s stock.

FedEx Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.