Eukles Asset Management Buys 6,719 Shares of FedEx Co. (NYSE:FDX)

Eukles Asset Management increased its stake in shares of FedEx Co. (NYSE:FDX) by 260.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,301 shares of the shipping service provider’s stock after acquiring an additional 6,719 shares during the quarter. Eukles Asset Management’s holdings in FedEx were worth $2,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FDX. Vanguard Group Inc. boosted its stake in FedEx by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after buying an additional 59,161 shares in the last quarter. FMR LLC boosted its stake in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after buying an additional 916,555 shares in the last quarter. Morgan Stanley boosted its stake in FedEx by 19.6% during the fourth quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after buying an additional 559,607 shares in the last quarter. Invesco Ltd. boosted its stake in FedEx by 13.6% during the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after buying an additional 360,680 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in FedEx by 2.6% during the third quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock worth $624,180,000 after buying an additional 60,201 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.6 %

NYSE:FDX traded up $4.32 during trading hours on Friday, reaching $267.69. 809,351 shares of the stock were exchanged, compared to its average volume of 2,068,209. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a 50 day moving average of $258.74 and a 200 day moving average of $254.17. The stock has a market cap of $65.87 billion, a PE ratio of 15.46, a PEG ratio of 1.24 and a beta of 1.21.

FedEx (NYSE:FDX) last released 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm posted $3.41 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is presently 29.07%.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group lifted their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Stifel Nicolaus cut their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the 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 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. In the last 90 days, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

FedEx 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.