5,804 Shares in FedEx Co. (NYSE:FDX) Purchased by Roberts Wealth Advisors LLC

Roberts Wealth Advisors LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,804 shares of the shipping service provider’s stock, valued at approximately $1,548,000.

Other hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of FedEx during the 4th quarter worth about $25,000. Fortis Group Advisors LLC raised 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. raised its holdings in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in FedEx in the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. acquired a new stake in FedEx in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other 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 value of $368,668.00. Following the sale, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard W. Smith sold 1,325 shares of FedEx 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 directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $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 worth $32,924,413. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of FDX stock opened at $299.84 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $302.41. The stock has a market capitalization of $73.78 billion, a PE ratio of 17.40, a P/E/G ratio of 1.10 and a beta of 1.18. The firm has a 50 day moving average of $258.10 and a two-hundred day moving average of $256.24.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the company posted $4.94 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 20.67 EPS for the current fiscal year.

FedEx announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

FedEx Increases Dividend

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

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. The Goldman Sachs Group increased their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Raymond James dropped their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $314.00.

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.