Webster Bank N. A. Sells 200 Shares of FedEx Co. (NYSE:FDX)

Webster Bank N. A. lessened its holdings in FedEx Co. (NYSE:FDX) by 10.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,677 shares of the shipping service provider’s stock after selling 200 shares during the period. Webster Bank N. A.’s holdings in FedEx were worth $486,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Asio Capital LLC grew its stake in FedEx by 1.3% in the first quarter. Asio Capital LLC now owns 30,741 shares of the shipping service provider’s stock valued at $8,945,000 after purchasing an additional 406 shares in the last quarter. Tevis Investment Management grew its stake in shares of FedEx by 43.5% in the first quarter. Tevis Investment Management now owns 1,340 shares of the shipping service provider’s stock valued at $388,000 after buying an additional 406 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in FedEx during the first quarter worth $277,000. Buckley Wealth Management LLC raised its position in FedEx by 1.5% during the first quarter. Buckley Wealth Management LLC now owns 3,805 shares of the shipping service provider’s stock worth $1,102,000 after acquiring an additional 55 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in FedEx by 4.1% in the first quarter. 180 Wealth Advisors LLC now owns 1,522 shares of the shipping service provider’s stock valued at $441,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 target price (up from $303.00) on shares of FedEx in a report on Wednesday. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird lifted their target price on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Cowen raised their price target on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Activity at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 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 accessible through this link. In other news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’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 directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,810 shares of company stock valued at $32,924,413. 8.73% of the stock is owned by insiders.

FedEx Stock Performance

NYSE FDX opened at $299.84 on Friday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41. The firm has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The firm’s 50 day simple moving average is $258.10 and its 200 day simple moving average is $256.36.

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

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be paid 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 dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.