UNIVEST FINANCIAL Corp Sells 335 Shares of FedEx Co. (NYSE:FDX)

UNIVEST FINANCIAL Corp cut its holdings in shares of FedEx Co. (NYSE:FDX) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,814 shares of the shipping service provider’s stock after selling 335 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in FedEx were worth $3,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KRS Capital Management LLC grew its holdings 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 worth $263,000 after purchasing an additional 41 shares during the period. Zullo Investment Group Inc. grew its holdings in 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 purchasing an additional 42 shares during the period. Toth Financial Advisory Corp grew its holdings in FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares during the period. SVB Wealth LLC grew its holdings in FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

FDX stock traded down $0.82 during mid-day trading on Tuesday, hitting $259.47. The company had a trading volume of 1,348,933 shares, compared to its average volume of 1,948,883. The firm has a market cap of $63.85 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. 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 Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The stock’s fifty day moving average price is $264.65 and its two-hundred day moving average price is $255.15.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 earnings per share. On average, analysts forecast that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.94%. FedEx’s payout ratio is 29.07%.

Insider Transactions at FedEx

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

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. BNP Paribas restated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. The Goldman Sachs Group raised their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Evercore ISI raised their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $301.33.

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.