Financial Synergies Wealth Advisors Inc. Takes $60,000 Position in FedEx Co. (NYSE:FDX)

Financial Synergies Wealth Advisors Inc. acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 207 shares of the shipping service provider’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its position in 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 bought a new stake in FedEx in the 4th quarter valued at $25,000. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC bought a new stake in FedEx in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. bought a new stake in FedEx in the 4th quarter valued at $30,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. BNP Paribas reiterated an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Finally, Wells Fargo & Company upgraded FedEx to a “hold” rating in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $303.88.

FedEx Price Performance

Shares of FDX opened at $256.63 on Tuesday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $63.15 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. The business has a 50-day moving average of $256.30 and a 200-day moving average of $255.83.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be issued a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Allen sold 10,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total value of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,919 shares of company stock worth $36,964,009. 8.73% of the stock is owned by corporate 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.