FedEx Co. (NYSE:FDX) Shares Sold by First National Trust Co

First National Trust Co reduced its stake in FedEx Co. (NYSE:FDX) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,440 shares of the shipping service provider’s stock after selling 3,243 shares during the quarter. First National Trust Co’s holdings in FedEx were worth $6,941,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FDX. Sentry LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $1,811,748,000. Mizuho Markets Americas LLC acquired a new stake in FedEx during the 3rd quarter worth approximately $496,611,000. FMR LLC lifted its holdings in FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after buying an additional 916,555 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in FedEx by 33,890.5% during the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in FedEx by 144.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after buying an additional 595,628 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

FedEx stock traded down $1.38 during midday trading on Friday, hitting $260.65. 1,085,243 shares of the company’s stock were exchanged, compared to its average volume of 1,311,143. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market cap of $64.14 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. The firm’s 50 day simple moving average is $264.27 and its 200 day simple moving average is $254.90.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm posted $3.41 EPS. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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 $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Insider Activity

In other news, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction dated 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 sale, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were 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 of the company’s stock, 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 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Bank of America reduced their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.