FedEx Co. (NYSE:FDX) Shares Sold by First Interstate Bank

First Interstate Bank cut its stake in shares of FedEx Co. (NYSE:FDX) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,086 shares of the shipping service provider’s stock after selling 321 shares during the period. First Interstate Bank’s holdings in FedEx were worth $1,793,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FDX. RB Capital Management LLC grew its holdings in shares of FedEx by 3.3% during the first 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 in the last quarter. AMI Investment Management Inc. grew its holdings in shares of FedEx by 43.9% in the first quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares during the period. Moors & Cabot Inc. grew its holdings in shares of FedEx by 101.5% in the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after purchasing an additional 2,153 shares during the period. Baird Financial Group Inc. grew its holdings in shares of FedEx by 7.8% in the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after purchasing an additional 10,731 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in shares of FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was 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 owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. Robert W. Baird upped their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Evercore ISI upped their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Barclays upped their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets upped their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Trading Down 0.7 %

FDX traded down $1.88 during midday trading on Tuesday, hitting $264.86. The company’s stock had a trading volume of 1,421,120 shares, compared to its average volume of 2,107,942. 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 firm has a market cap of $65.18 billion, a P/E ratio of 15.18, a PEG ratio of 1.26 and a beta of 1.21. The firm has a 50-day moving average price of $257.41 and a two-hundred day moving average price of $254.05. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 EPS. On average, research analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 dividend yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

FedEx Company Profile

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.