Cwm LLC Purchases 329 Shares of FedEx Co. (NYSE:FDX)

Cwm LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 4.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,978 shares of the shipping service provider’s stock after purchasing an additional 329 shares during the quarter. Cwm LLC’s holdings in FedEx were worth $2,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Financial Management Professionals Inc. grew its stake in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of FedEx in the fourth quarter worth approximately $30,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

FDX stock opened at $248.09 on Thursday. FedEx Co. has a one year low of $223.24 and a one year high of $291.27. The company’s fifty day moving average price is $257.18 and its 200-day moving average price is $256.17. 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 company has a market capitalization of $61.05 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

FedEx (NYSE:FDX) last released its 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 net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx declared that its board has authorized a share buyback plan 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 buy up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

FedEx Increases Dividend

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

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FDX. Evercore ISI lifted their price target on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays boosted 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. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Bank of America cut their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.92.

About FedEx

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.