FedEx Co. (NYSE:FDX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its holdings in FedEx Co. (NYSE:FDX) by 62.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549 shares of the shipping service provider’s stock after selling 923 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in FedEx were worth $139,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Financial Management Professionals Inc. raised its position in FedEx by 143.2% in the fourth 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 during the period. Rakuten Securities Inc. acquired a new position in shares of FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx during the fourth quarter worth $31,000. Planned Solutions Inc. acquired a new position in shares of FedEx during the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. grew its stake in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the transaction, the director now 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 SEC, which is accessible through the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were 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 in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by insiders.

FedEx Stock Down 0.6 %

FDX stock opened at $264.56 on Thursday. The company’s 50 day simple moving average is $261.03 and its 200-day simple moving average is $254.36. The firm has a market capitalization of $65.10 billion, a PE ratio of 15.35, a P/E/G ratio of 1.28 and a beta of 1.21. FedEx Co. has a 12 month low of $213.80 and a 12 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.

FedEx (NYSE:FDX) last announced 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. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the business earned $3.41 earnings per share. FedEx’s revenue was down 2.1% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

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

FedEx Announces Dividend

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

Analyst Ratings Changes

FDX has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Morgan Stanley increased their price target on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Finally, Bank of America cut their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. 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 company’s stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $301.33.

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.