&Partners Buys 1,496 Shares of FedEx Co. (NYSE:FDX)

&Partners increased its holdings in shares of FedEx Co. (NYSE:FDX) by 131.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,635 shares of the shipping service provider’s stock after purchasing an additional 1,496 shares during the quarter. &Partners’ holdings in FedEx were worth $763,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its holdings in 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 purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the fourth quarter valued at $25,000. Financial Management Professionals Inc. lifted its stake in 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 acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in FedEx in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. acquired a new stake in FedEx in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. TD Cowen increased their price target on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. UBS Group cut their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Wells Fargo & Company raised shares of FedEx to a “hold” rating in a research report on Tuesday, June 18th. Morgan Stanley increased their price objective on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.21.

FedEx Stock Up 0.5 %

NYSE:FDX opened at $253.66 on Monday. The firm’s 50 day simple moving average is $256.50 and its 200 day simple moving average is $255.91. 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 one year low of $224.40 and a one year high of $291.27. The company has a market cap of $62.42 billion, a PE ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.16.

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

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.18%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx announced that its board has authorized a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at FedEx

In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s 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 transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s 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 transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now 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 have sold 136,668 shares of company stock worth $37,758,773. Company 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.