FedEx Co. (NYSE:FDX) Shares Sold by Sawyer & Company Inc

Sawyer & Company Inc decreased its stake in FedEx Co. (NYSE:FDX) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,611 shares of the shipping service provider’s stock after selling 113 shares during the period. Sawyer & Company Inc’s holdings in FedEx were worth $1,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FDX. Sentry LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $1,811,748,000. Norges Bank purchased a new position in FedEx during the 4th quarter worth $700,291,000. Capital International Investors increased its stake in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares during the period. Putnam Investments LLC raised its holdings in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of FedEx by 33,890.5% during the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FedEx stock opened at $299.84 on Friday. The firm’s 50-day moving average is $258.10 and its two-hundred day moving average is $256.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26. The stock has a market capitalization of $73.78 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.94 EPS. Equities analysts predict that FedEx Co. will post 20.51 earnings per share for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be issued a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx declared that its board has approved a stock buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on FDX shares. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $296.00 to $359.00 in a research note on Wednesday. The Goldman Sachs Group upped their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group lowered their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research note on Wednesday. Finally, Evercore ISI lowered their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,810 shares of company stock valued at $32,924,413. Company insiders own 8.73% of the company’s stock.

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.