Douglas Lane & Associates LLC Sells 205 Shares of FedEx Co. (NYSE:FDX)

Douglas Lane & Associates LLC reduced its stake in FedEx Co. (NYSE:FDX) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,665 shares of the shipping service provider’s stock after selling 205 shares during the period. Douglas Lane & Associates LLC’s holdings in FedEx were worth $2,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after buying an additional 59,161 shares in the last quarter. Sentry LLC acquired a new position in FedEx during the 4th quarter worth $1,811,748,000. Capital International Investors lifted its holdings in 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 buying an additional 880,894 shares in the last quarter. Morgan Stanley lifted its holdings in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after buying an additional 35,085 shares in the last quarter. Finally, Putnam Investments LLC lifted its holdings in 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 buying an additional 798,084 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. BNP Paribas reissued an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Evercore ISI increased their price target on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Robert W. Baird increased their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. UBS Group lowered their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company upgraded shares of FedEx to a “hold” rating in a research report on Tuesday, June 18th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.21.

FedEx Trading Up 0.5 %

Shares of FDX stock opened at $253.66 on Monday. The firm has a 50 day moving average price of $256.50 and a two-hundred day moving average price of $255.91. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $62.42 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. FedEx Co. has a 12-month low of $224.40 and a 12-month high of $291.27.

FedEx (NYSE:FDX) last announced 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 company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. The ex-dividend date 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 dividend yield of 2.18%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

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

Insider Transactions at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction 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 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 this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, 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 ninety days, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently 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.