Todd Asset Management LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Todd Asset Management LLC acquired a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 76,181 shares of the shipping service provider’s stock, valued at approximately $19,272,000.

Other institutional investors have also recently bought and sold shares of the company. KRS Capital Management LLC increased its stake in FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after acquiring an additional 42 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in shares of FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares in the last quarter. SVB Wealth LLC raised its holdings in FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. TD Cowen lifted their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group lifted their price target on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Barclays lifted their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Robert W. Baird boosted their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.33.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were 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 in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last 90 days. 8.73% of the stock is owned by insiders.

FedEx Price Performance

Shares of FDX traded down $1.38 during midday trading on Friday, hitting $260.65. The company’s stock had a trading volume of 1,085,243 shares, compared to its average volume of 1,311,143. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $64.14 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The company’s fifty day simple moving average is $264.27 and its two-hundred day simple moving average is $254.90.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating 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 posted $3.41 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx declared that its Board of Directors has initiated a stock 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 repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.