FedEx Co. (NYSE:FDX) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its holdings in FedEx Co. (NYSE:FDX) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,198 shares of the shipping service provider’s stock after selling 56 shares during the quarter. Parkside Financial Bank & Trust’s holdings in FedEx were worth $556,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on FDX. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Robert W. Baird boosted their price objective on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Trading Up 0.5 %

FDX traded up $1.35 on Tuesday, reaching $271.50. 638,799 shares of the company’s stock were exchanged, compared to its average volume of 2,053,449. The company’s 50 day moving average is $259.74 and its 200-day moving average is $254.18. The company has a market cap of $66.81 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.26 and a beta of 1.21. 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 quick ratio of 1.26 and a current ratio of 1.31.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS. Equities analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.86%. FedEx’s dividend payout ratio is currently 29.07%.

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

Insider Activity

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on 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 owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 over the last 90 days. Company insiders own 8.73% of the company’s stock.

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.