FedEx Co. (NYSE:FDX) Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. boosted its position in FedEx Co. (NYSE:FDX) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 959 shares of the shipping service provider’s stock after purchasing an additional 106 shares during the quarter. Centaurus Financial Inc.’s holdings in FedEx were worth $243,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FDX. Sentry LLC purchased a new stake in FedEx in the 4th quarter valued at $1,811,748,000. Norges Bank purchased a new stake in FedEx in the 4th quarter valued at $700,291,000. Capital International Investors grew its holdings in shares of FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after purchasing an additional 880,894 shares during the period. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of 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 purchasing an additional 649,680 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 completion of the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

FedEx Trading Down 0.8 %

FDX opened at $248.09 on Wednesday. The firm has a market cap of $61.05 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. FedEx Co. has a 52 week low of $223.24 and a 52 week high of $291.27. The business’s 50 day moving average is $257.62 and its two-hundred day moving average is $256.22. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.76 EPS for the current year.

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

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.22%. FedEx’s payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on FedEx in a report on Friday, June 7th. They set an “equal weight” rating and a $275.00 price target for the company. Morgan Stanley raised their target price on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Jefferies Financial Group raised their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Evercore ISI raised their target price on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $301.92.

FedEx 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.