Chicago Partners Investment Group LLC Acquires 54 Shares of FedEx Co. (NYSE:FDX)

Chicago Partners Investment Group LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,446 shares of the shipping service provider’s stock after acquiring an additional 54 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in FedEx were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Rafferty Asset Management LLC grew its stake in shares of FedEx by 0.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,303 shares of the shipping service provider’s stock worth $5,644,000 after acquiring an additional 199 shares during the period. QRG Capital Management Inc. bought a new position in shares of FedEx during the 3rd quarter worth $3,169,000. Envestnet Portfolio Solutions Inc. purchased a new stake in FedEx during the 3rd quarter worth about $3,881,000. Envestnet Asset Management Inc. lifted its holdings in FedEx by 25.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 329,502 shares of the shipping service provider’s stock worth $87,292,000 after purchasing an additional 66,336 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in FedEx by 75.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 3,500 shares of the shipping service provider’s stock worth $927,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent research reports. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. UBS Group dropped their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Morgan Stanley increased their price objective on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Finally, Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $301.92.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly 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 at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on 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 sale, the chairman now directly 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 at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx 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 sale, 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. 8.73% of the stock is currently owned by insiders.

FedEx Price Performance

FDX opened at $250.06 on Tuesday. The stock’s 50 day simple moving average is $258.19 and its 200 day simple moving average is $256.34. 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 Co. has a 1 year low of $223.24 and a 1 year high of $291.27. The firm has a market cap of $61.54 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.89 and a beta of 1.16.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $3.41 EPS. As a group, analysts predict that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed 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. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 31.83%.

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 shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About FedEx

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.