OneAscent Financial Services LLC Sells 352 Shares of FedEx Co. (NYSE:FDX)

OneAscent Financial Services LLC cut its stake in FedEx Co. (NYSE:FDX) by 15.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,958 shares of the shipping service provider’s stock after selling 352 shares during the quarter. OneAscent Financial Services LLC’s holdings in FedEx were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC grew its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Financial Management Professionals Inc. grew its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC bought a new stake in FedEx during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in FedEx during the fourth quarter valued at approximately $30,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

FDX stock opened at $299.84 on Friday. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company’s fifty day moving average price is $258.10 and its 200-day moving average price is $256.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the firm earned $4.94 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 20.51 EPS for the current fiscal year.

FedEx declared that its board has authorized a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the chairman now 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 90 days, insiders have sold 119,810 shares of company stock worth $32,924,413. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Barclays boosted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.00.

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.