Thomasville National Bank Has $380,000 Position in FedEx Co. (NYSE:FDX)

Thomasville National Bank lowered its holdings in FedEx Co. (NYSE:FDX) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,311 shares of the shipping service provider’s stock after selling 242 shares during the quarter. Thomasville National Bank’s holdings in FedEx were worth $380,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Perpetual Ltd grew its position in FedEx by 18.5% in the 1st quarter. Perpetual Ltd now owns 2,382 shares of the shipping service provider’s stock valued at $690,000 after purchasing an additional 372 shares during the period. Woodstock Corp grew its position in FedEx by 90.6% in the 1st quarter. Woodstock Corp now owns 24,732 shares of the shipping service provider’s stock valued at $7,166,000 after purchasing an additional 11,753 shares during the period. Massmutual Trust Co. FSB ADV grew its position in FedEx by 1.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 15,094 shares of the shipping service provider’s stock valued at $4,373,000 after purchasing an additional 147 shares during the period. Rise Advisors LLC boosted its holdings in FedEx by 60.2% during the 1st quarter. Rise Advisors LLC now owns 354 shares of the shipping service provider’s stock worth $103,000 after acquiring an additional 133 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in FedEx by 6.7% during the 1st quarter. Mather Group LLC. now owns 5,709 shares of the shipping service provider’s stock worth $1,654,000 after acquiring an additional 360 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.8 %

Shares of FDX opened at $252.52 on Friday. The firm has a market cap of $62.14 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.90 and a beta of 1.16. The stock has a 50 day simple moving average of $256.79 and a two-hundred day simple moving average of $256.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 1 year low of $223.24 and a 1 year high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results 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. The business had revenue of $21.70 billion during 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%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 earnings per share. On average, analysts forecast that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 2.19%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is currently 29.07%.

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

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Barclays lifted their target price on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. TD Cowen boosted their price objective on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus lowered their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.92.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 $2,265,277.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sold a total of 136,668 shares of company stock valued at $37,758,773 over the last quarter. 8.73% of the stock is owned by corporate insiders.

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.