AMI Investment Management Inc. Grows Position in FedEx Co. (NYSE:FDX)

AMI Investment Management Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,490 shares of the shipping service provider’s stock after acquiring an additional 147 shares during the quarter. FedEx comprises approximately 1.6% of AMI Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. AMI Investment Management Inc.’s holdings in FedEx were worth $3,921,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FDX. Camarda Financial Advisors LLC boosted its position in FedEx by 0.6% during the 2nd quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock worth $1,591,000 after acquiring an additional 40 shares during the period. M&R Capital Management Inc. raised its stake in shares of FedEx by 0.3% in the 3rd quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock worth $4,289,000 after buying an additional 41 shares in the last quarter. Family Legacy Inc. raised its stake in shares of FedEx by 3.2% in the 3rd quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock worth $381,000 after buying an additional 45 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of FedEx by 42.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after buying an additional 45 shares in the last quarter. Finally, Wade G W & Inc. raised its stake in shares of FedEx by 0.3% in the 3rd quarter. Wade G W & Inc. now owns 17,283 shares of the shipping service provider’s stock worth $4,579,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FDX opened at $289.70 on Friday. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The firm has a market capitalization of $71.29 billion, a PE ratio of 16.71, a PEG ratio of 1.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The business’s 50-day simple moving average is $249.64 and its 200 day simple moving average is $252.32.

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

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 29.07%.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on 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 sale, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,393 shares of company stock valued at $5,581,475. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America boosted their price objective on FedEx from $313.00 to $346.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Morgan Stanley boosted their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Jefferies Financial Group boosted their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, Melius raised FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $301.07.

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.