Charles Schwab Investment Management Inc. Acquires 12,489 Shares of FedEx Co. (NYSE:FDX)

Charles Schwab Investment Management Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,401,372 shares of the shipping service provider’s stock after purchasing an additional 12,489 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FedEx were worth $354,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FDX. Sentry LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $1,811,748,000. Mizuho Markets Americas LLC purchased a new position in shares of FedEx during the 3rd quarter valued at $496,611,000. FMR LLC grew its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares during the period. International Assets Investment Management LLC increased its holdings in FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after acquiring an additional 649,680 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in FedEx by 144.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after acquiring an additional 595,628 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Down 1.1 %

NYSE FDX traded down $2.87 during trading on Wednesday, hitting $256.60. 581,082 shares of the company’s stock traded hands, compared to its average volume of 1,933,595. The stock has a fifty day moving average of $265.01 and a two-hundred day moving average of $255.28. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The firm has a market cap of $63.14 billion, a P/E ratio of 14.89, a PEG ratio of 1.23 and a beta of 1.23. 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 issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business posted $3.41 EPS. FedEx’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 17.69 EPS for the current year.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued 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 1.96%. FedEx’s dividend payout ratio is currently 29.07%.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the company’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 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 valued at $37,758,773 in the last quarter. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Barclays lifted their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Evercore ISI raised their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets boosted their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price 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.