SteelPeak Wealth LLC Increases Position in FedEx Co. (NYSE:FDX)

SteelPeak Wealth LLC raised its position in FedEx Co. (NYSE:FDX) by 19.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,994 shares of the shipping service provider’s stock after acquiring an additional 955 shares during the quarter. SteelPeak Wealth LLC’s holdings in FedEx were worth $1,744,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortis Group Advisors LLC boosted its holdings in 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 buying an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the 4th quarter worth about $25,000. Financial Management Professionals Inc. boosted 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 worth $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in FedEx in the 4th quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new stake in FedEx in the 4th quarter worth about $30,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

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

FedEx Stock Performance

NYSE:FDX opened at $299.84 on Monday. The firm has a market capitalization of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The business’s fifty day moving average price is $258.10 and its 200 day moving average price is $256.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $302.41.

FedEx (NYSE:FDX) last posted its 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. The firm 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%. FedEx’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 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

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

FedEx Increases Dividend

The firm 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. 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 positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Raymond James lowered their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. Wells Fargo & Company boosted their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday. One investment 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. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

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.