St. Johns Investment Management Company LLC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

St. Johns Investment Management Company LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,487 shares of the shipping service provider’s stock after purchasing an additional 69 shares during the period. St. Johns Investment Management Company LLC’s holdings in FedEx were worth $1,010,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth $25,000. Fortis Group Advisors LLC lifted its position 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 purchasing an additional 50 shares during the last quarter. Financial Management Professionals Inc. lifted 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 worth $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in FedEx during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter worth $30,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 15.5 %

FDX stock opened at $296.19 on Thursday. The company has a market cap of $72.89 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.93 and a beta of 1.16. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $296.86. The company’s 50-day moving average price is $256.13 and its 200 day moving average price is $255.72. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

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

FedEx Increases Dividend

The firm also recently declared 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 represents a $5.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

FedEx declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FDX. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up from $303.00) 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 research note on Wednesday. Jefferies Financial Group lifted their price target on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Bank of America lifted their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $313.09.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated 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 sale, the chairman now 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 can be accessed through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 have sold 117,275 shares of company stock valued at $32,177,298 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

About FedEx

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.