FedEx Co. (NYSE:FDX) Shares Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division boosted its stake in FedEx Co. (NYSE:FDX) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,026 shares of the shipping service provider’s stock after purchasing an additional 86 shares during the period. Moody National Bank Trust Division’s holdings in FedEx were worth $1,166,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its holdings in FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Western Wealth Management LLC grew its stake in shares of FedEx by 10.0% in the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after acquiring an additional 333 shares in the last quarter. Trust Point Inc. acquired a new position in shares of FedEx in the fourth quarter worth $282,000. Planned Solutions Inc. acquired a new position in shares of FedEx in the fourth quarter worth $32,000. Finally, EFG Asset Management North America Corp. grew its stake in shares of FedEx by 173.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after acquiring an additional 4,831 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.8 %

NYSE FDX opened at $248.09 on Thursday. The stock has a market capitalization of $61.05 billion, a P/E ratio of 14.31, a P/E/G ratio of 0.90 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 firm has a 50-day moving average price of $257.18 and a 200 day moving average price of $256.17. 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 issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share 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 analyst estimates of $21.95 billion. During the same period in the prior year, the business posted $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 17.76 EPS for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. TD Cowen boosted their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Morgan Stanley boosted their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Finally, BMO Capital Markets boosted their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.92.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly 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 this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by company insiders.

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.