Kingswood Wealth Advisors LLC Sells 737 Shares of FedEx Co. (NYSE:FDX)

Kingswood Wealth Advisors LLC lowered its position in FedEx Co. (NYSE:FDX) by 25.9% during the 1st quarter, Holdings Channel reports. The firm owned 2,109 shares of the shipping service provider’s stock after selling 737 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in FedEx were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FDX. F&V Capital Management LLC raised its holdings in shares of FedEx by 4.8% in the first quarter. F&V Capital Management LLC now owns 61,572 shares of the shipping service provider’s stock valued at $17,840,000 after acquiring an additional 2,825 shares in the last quarter. Thompson Investment Management Inc. boosted its stake in shares of FedEx by 1.4% during the first quarter. Thompson Investment Management Inc. now owns 19,378 shares of the shipping service provider’s stock valued at $5,614,000 after purchasing an additional 276 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in FedEx by 1.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,326 shares of the shipping service provider’s stock valued at $1,833,000 after buying an additional 100 shares during the period. Riverview Trust Co bought a new position in FedEx in the first quarter worth approximately $214,000. Finally, Jacobs & Co. CA lifted its holdings in FedEx by 1.2% during the first quarter. Jacobs & Co. CA now owns 45,913 shares of the shipping service provider’s stock worth $13,303,000 after buying an additional 547 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Insiders sold a total of 117,275 shares of company stock worth $32,177,298 in the last three months. Company insiders own 8.73% of the company’s stock.

FedEx Trading Up 15.5 %

NYSE FDX opened at $296.19 on Thursday. The company has a fifty day moving average of $256.13 and a 200 day moving average of $255.72. The company has a market capitalization of $72.89 billion, a PE ratio of 17.19, a P/E/G ratio of 0.93 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 1 year low of $224.69 and a 1 year high of $296.86.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.94 EPS. Research analysts forecast that FedEx Co. will post 20.26 earnings per share for the current year.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

FedEx Increases Dividend

The company 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. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s payout ratio is 32.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday. TD Cowen lifted their price target on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.09.

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.