OneAscent Financial Services LLC cut its stake in FedEx Co. (NYSE:FDX – Free Report) by 15.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,958 shares of the shipping service provider’s stock after selling 352 shares during the quarter. OneAscent Financial Services LLC’s holdings in FedEx were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC grew its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Financial Management Professionals Inc. grew its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC bought a new stake in FedEx during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in FedEx during the fourth quarter valued at approximately $30,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Price Performance
FDX stock opened at $299.84 on Friday. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company’s fifty day moving average price is $258.10 and its 200-day moving average price is $256.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16.
FedEx declared that its board has authorized a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
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 given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.
Insider Buying and Selling
In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction 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 available at the SEC website. In related news, CEO Richard W. Smith sold 1,325 shares of the business’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 owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,810 shares of company stock worth $32,924,413. Insiders own 8.73% of the company’s stock.
Wall Street Analyst Weigh In
FDX has been the subject of several recent research reports. Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Barclays boosted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.00.
Check Out Our Latest Stock Analysis on FDX
About FedEx
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.
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