Birmingham Capital Management Co. Inc. AL Has $3.75 Million Holdings in FedEx Co. (NYSE:FDX)

Birmingham Capital Management Co. Inc. AL decreased its position in shares of FedEx Co. (NYSE:FDX) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,825 shares of the shipping service provider’s stock after selling 435 shares during the period. FedEx accounts for 1.5% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 25th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in FedEx were worth $3,750,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in FedEx by 20.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares during the period. Western Wealth Management LLC boosted its position in shares of FedEx by 10.0% in the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after acquiring an additional 333 shares during the period. Trust Point Inc. acquired a new stake in shares of FedEx in the fourth quarter worth $282,000. Planned Solutions Inc. bought a new position in FedEx during the fourth quarter worth $32,000. Finally, EFG Asset Management North America Corp. raised its stake in FedEx by 173.2% during the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock valued at $1,928,000 after purchasing an additional 4,831 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the firm’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 $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

FDX traded down $2.17 during midday trading on Friday, hitting $246.43. The company had a trading volume of 1,245,412 shares, compared to its average volume of 1,801,494. FedEx Co. has a twelve month low of $223.24 and a twelve month high of $291.27. The company has a market capitalization of $60.64 billion, a PE ratio of 14.21, a P/E/G ratio of 0.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm’s 50-day simple moving average is $258.70 and its 200-day simple moving average is $256.36.

FedEx (NYSE:FDX) last issued its quarterly 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. The business had revenue of $21.70 billion during 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%. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 earnings per share. Equities research analysts predict that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s payout ratio is currently 29.07%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FDX shares. Bank of America dropped their price objective on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Jefferies Financial Group upped their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Wells Fargo & Company began coverage on FedEx in a report on Friday, June 7th. They set an “equal weight” rating and a $275.00 price objective on the stock. BMO Capital Markets upped their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Finally, TD Cowen lifted their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.92.

FedEx Company 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.