Breakwater Capital Group Increases Stake in FedEx Co. (NYSE:FDX)

Breakwater Capital Group increased its holdings in FedEx Co. (NYSE:FDX) by 7.7% in the first quarter, Holdings Channel reports. The fund owned 925 shares of the shipping service provider’s stock after purchasing an additional 66 shares during the quarter. Breakwater Capital Group’s holdings in FedEx were worth $268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% in 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 period. Scarborough Advisors LLC purchased a new stake in FedEx during the fourth quarter worth $25,000. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% during 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 in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of FedEx in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of FedEx during the 4th quarter worth $30,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 1.5 %

FDX stock opened at $299.84 on Monday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $302.41. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50-day simple moving average of $258.10 and a 200-day simple moving average of $256.24. The stock has a market capitalization of $73.78 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. The company had revenue of $22.11 billion during 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%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $4.94 EPS. Equities analysts forecast that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

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

FedEx declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Jefferies Financial Group raised their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. BNP Paribas reissued an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. Barclays raised their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets boosted their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction 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 sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx 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 transaction, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 119,810 shares of company stock valued at $32,924,413 over the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

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.