Delta Financial Advisors LLC Sells 854 Shares of FedEx Co. (NYSE:FDX)

Delta Financial Advisors LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,649 shares of the shipping service provider’s stock after selling 854 shares during the quarter. Delta Financial Advisors LLC’s holdings in FedEx were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. increased its holdings in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners acquired a new stake in FedEx during the 4th quarter valued at $31,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter valued at $32,000. Finally, Valley National Advisers Inc. increased its holdings in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Robert W. Baird lifted their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Bank Of America (Bofa) lifted their target price on FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. The Goldman Sachs Group lifted their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Stock Up 0.4 %

Shares of FedEx stock traded up $1.03 during trading on Thursday, reaching $264.10. The stock had a trading volume of 301,578 shares, compared to its average volume of 2,075,037. The company has a market capitalization of $64.99 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.25 and a beta of 1.21. The stock has a fifty day moving average price of $258.30 and a two-hundred day moving average price of $254.11. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. 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 issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The company 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%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 earnings per share. Sell-side analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.91%. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx declared that its Board of Directors has authorized a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was 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 of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was 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 of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

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.