Successful Portfolios LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Successful Portfolios LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 787 shares of the shipping service provider’s stock after selling 49 shares during the quarter. Successful Portfolios LLC’s holdings in FedEx were worth $228,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% in the fourth 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. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter worth about $25,000. Financial Management Professionals Inc. increased its position in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx in the fourth quarter worth approximately $30,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of several research reports. Wells Fargo & Company upped 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 reduced their price target 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. BNP Paribas reiterated an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. Robert W. Baird boosted their price objective on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Finally, TD Cowen lifted their price target on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.00.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction dated Thursday, April 4th. The stock was 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 of the company’s stock, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,810 shares of company stock worth $32,924,413. Company insiders own 8.73% of the company’s stock.

FedEx Trading Up 1.5 %

NYSE FDX opened at $299.84 on Monday. The stock has a market cap 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. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41. The company has a fifty day simple moving average of $258.10 and a two-hundred day simple 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, topping 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 company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, analysts forecast that FedEx Co. will post 20.67 earnings per share for the current year.

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 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 an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

FedEx declared that its board has authorized a share 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 reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.