Marcum Wealth LLC Sells 326 Shares of FedEx Co. (NYSE:FDX)

Marcum Wealth LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 23.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,059 shares of the shipping service provider’s stock after selling 326 shares during the quarter. Marcum Wealth LLC’s holdings in FedEx were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDX. Fortis Group Advisors LLC boosted its stake in shares of FedEx by 100.0% during the 4th 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 last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth $25,000. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of FedEx during the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FedEx in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction 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 transaction, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group lifted their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their price target on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.21.

FedEx Trading Up 0.5 %

FDX stock opened at $253.66 on Friday. The company has a market capitalization of $62.42 billion, a PE ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.16. 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 12 month low of $224.40 and a 12 month high of $291.27. The firm’s 50-day moving average is $256.50 and its 200 day moving average is $255.99.

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

FedEx announced that its board has approved a stock 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 purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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 given a dividend of $1.38 per share. The ex-dividend date is Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. FedEx’s payout ratio is 29.07%.

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.