Los Angeles Capital Management LLC Has $8.57 Million Stake in FedEx Co. (NYSE:FDX)

Los Angeles Capital Management LLC cut its stake in FedEx Co. (NYSE:FDX) by 79.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,586 shares of the shipping service provider’s stock after selling 114,439 shares during the period. Los Angeles Capital Management LLC’s holdings in FedEx were worth $8,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. raised its holdings in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of FedEx in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in FedEx during the fourth quarter worth $30,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FDX shares. Robert W. Baird boosted their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Bank of America dropped their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. The Goldman Sachs Group increased their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays boosted their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $301.92.

FedEx Stock Down 0.8 %

NYSE FDX opened at $248.09 on Thursday. 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 fifty-two week low of $223.24 and a fifty-two week high of $291.27. The business has a fifty day moving average price of $257.18 and a two-hundred day moving average price of $256.17. The stock has a market capitalization of $61.05 billion, a PE ratio of 14.31, a PEG ratio of 0.90 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $3.41 earnings per share. Equities analysts expect that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be issued a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, June 24th. FedEx’s payout ratio is presently 29.07%.

FedEx announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated 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 owns 6,294 shares of the company’s stock, valued at $1,735,192.86. 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. Corporate insiders own 8.73% of the company’s stock.

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.