FedEx Co. (NYSE:FDX) Shares Acquired by Jacobs & Co. CA

Jacobs & Co. CA increased its holdings in shares of FedEx Co. (NYSE:FDX) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,366 shares of the shipping service provider’s stock after purchasing an additional 972 shares during the quarter. Jacobs & Co. CA’s holdings in FedEx were worth $11,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in FedEx in the fourth quarter valued at approximately $388,787,000. Mizuho Markets Americas LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $496,611,000. FMR LLC boosted its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of FedEx by 2,602.9% during the 2nd quarter. Marshall Wace LLP now owns 608,210 shares of the shipping service provider’s stock valued at $150,775,000 after buying an additional 632,510 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of FedEx by 144.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after buying an additional 595,628 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the transaction, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $287.88 on Thursday. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The firm has a market capitalization of $70.84 billion, a PE ratio of 16.60, a PEG ratio of 1.37 and a beta of 1.20. The business’s 50 day moving average is $248.74 and its 200-day moving average is $252.07. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS. Sell-side analysts predict that FedEx Co. will post 17.6 earnings per share for the current year.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FDX. Stephens reduced their target price on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. Morgan Stanley raised their price objective on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Monday, January 8th. Finally, Bank Of America (Bofa) increased their target price on FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.07.

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.