Kapitalo Investimentos Ltda Decreases Stake in FedEx Co. (NYSE:FDX)

Kapitalo Investimentos Ltda decreased its stake in shares of FedEx Co. (NYSE:FDX) by 66.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 305 shares of the shipping service provider’s stock after selling 604 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in FedEx were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. CI Investments Inc. grew its stake in FedEx by 2.9% during the 3rd quarter. CI Investments Inc. now owns 4,916 shares of the shipping service provider’s stock valued at $1,302,000 after purchasing an additional 138 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in FedEx during the 3rd quarter worth approximately $202,000. Dark Forest Capital Management LP lifted its stake in FedEx by 8.0% during the 3rd quarter. Dark Forest Capital Management LP now owns 4,575 shares of the shipping service provider’s stock valued at $1,212,000 after acquiring an additional 339 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of FedEx by 19.6% in the 3rd quarter. Clearbridge Investments LLC now owns 5,065 shares of the shipping service provider’s stock valued at $1,342,000 after acquiring an additional 830 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of FedEx by 2.6% in the third quarter. LPL Financial LLC now owns 269,695 shares of the shipping service provider’s stock worth $71,448,000 after acquiring an additional 6,748 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FDX shares. Robert W. Baird increased their price target on 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 target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. BNP Paribas reissued an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. TD Cowen raised their price objective 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. Finally, Evercore ISI boosted their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. One 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’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $301.92.

FedEx Stock Up 1.8 %

FDX stock opened at $252.52 on Friday. The company has a market cap of $62.14 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.90 and a beta of 1.16. The firm has a 50-day moving average of $256.79 and a two-hundred day moving average of $256.14. FedEx Co. has a 12 month low of $223.24 and a 12 month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, analysts forecast that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

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 dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 2.19%. FedEx’s payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has approved a share repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on 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 transaction, 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 ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 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.