FedEx Co. (NYSE:FDX) Shares Acquired by Carret Asset Management LLC

Carret Asset Management LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,488 shares of the shipping service provider’s stock after buying an additional 847 shares during the period. FedEx makes up 1.0% of Carret Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Carret Asset Management LLC’s holdings in FedEx were worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter worth $25,000. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $30,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

FDX traded down $4.51 during midday trading on Wednesday, reaching $293.71. 1,268,287 shares of the company’s stock were exchanged, compared to its average volume of 1,950,716. The firm has a market capitalization of $72.28 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The business has a 50-day simple moving average of $259.20 and a two-hundred day simple moving average of $256.49.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the firm posted $4.94 EPS. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that FedEx Co. will post 20.67 EPS for the current year.

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 paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.88%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio is currently 32.04%.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. BMO Capital Markets lifted their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Bank of America upped their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group raised their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Transactions at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of the business’s 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 completion of the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,189 shares of company stock valued at $38,046,602. Corporate insiders own 8.73% of the company’s stock.

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.