Bigelow Investment Advisors LLC Cuts Stake in FedEx Co. (NYSE:FDX)

Bigelow Investment Advisors LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,662 shares of the shipping service provider’s stock after selling 83 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in FedEx were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Norges Bank bought a new position in shares of FedEx during the 4th quarter valued at approximately $388,787,000. Mizuho Markets Americas LLC bought a new position in shares of FedEx during the 3rd quarter valued at approximately $496,611,000. FMR LLC increased its stake in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares during the period. International Assets Investment Management LLC increased its stake in 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 purchasing an additional 649,680 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in FedEx by 144.4% in the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after purchasing an additional 595,628 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 in the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Trading Up 1.4 %

NYSE FDX traded up $3.62 on Friday, reaching $266.99. 1,739,117 shares of the company were exchanged, compared to its average volume of 2,081,102. The business’s fifty day moving average price is $258.74 and its 200 day moving average price is $254.17. The stock has a market capitalization of $65.70 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. Analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx declared that its board has initiated a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus cut their target price on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. UBS Group boosted their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, TD Cowen boosted their price target on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

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.