FedEx Co. (NYSE:FDX) Stock Position Raised by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd boosted its position in shares of FedEx Co. (NYSE:FDX) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,724 shares of the shipping service provider’s stock after purchasing an additional 112 shares during the period. Gulf International Bank UK Ltd’s holdings in FedEx were worth $5,714,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FDX. KRS Capital Management LLC increased its stake in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. raised its holdings in shares of FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after acquiring an additional 42 shares in the last quarter. Toth Financial Advisory Corp boosted its position in FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC grew its stake in FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after purchasing an additional 44 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its position in FedEx by 2.7% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock worth $437,000 after purchasing an additional 46 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Morgan Stanley raised their price target on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Bank of America decreased their price objective on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets boosted their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $304.21.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were 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 approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Up 0.5 %

Shares of FDX opened at $253.66 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company has a 50-day simple moving average of $256.50 and a 200-day simple moving average of $255.99. FedEx Co. has a 52 week low of $224.40 and a 52 week high of $291.27. The firm has a market capitalization of $62.42 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.16.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 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 company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.41 EPS. On average, equities research analysts expect that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 29.07%.

FedEx declared that its Board of Directors has approved a stock repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors 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.