Fifth Third Wealth Advisors LLC Buys Shares of 955 FedEx Co. (NYSE:FDX)

Fifth Third Wealth Advisors LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 955 shares of the shipping service provider’s stock, valued at approximately $277,000.

Several other large investors also recently made changes to their positions in the stock. Sentry LLC acquired a new position in FedEx in the 4th quarter valued at approximately $1,811,748,000. Norges Bank bought a new stake in FedEx during the 4th quarter worth approximately $700,291,000. Capital International Investors grew its position in FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after acquiring an additional 880,894 shares during the last quarter. Putnam Investments LLC grew its position in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in FedEx by 33,890.5% during 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. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was 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 directly owns 84,614 shares in the company, valued at $23,542,999.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,275 shares of company stock worth $32,177,298. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Raymond James decreased their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday. Robert W. Baird increased their price objective on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Trading Up 1.5 %

NYSE:FDX traded up $4.37 during mid-day trading on Friday, hitting $299.84. 4,206,407 shares of the company’s stock were exchanged, compared to its average volume of 1,952,393. The company has a 50 day simple moving average of $256.80 and a 200-day simple moving average of $256.00. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $302.41. The firm has a market capitalization of $73.78 billion, a P/E ratio of 17.47, a PEG ratio of 1.06 and a beta of 1.16.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the company earned $4.94 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 20.53 earnings per share for the current year.

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

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is 32.04%.

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.