Kingswood Wealth Advisors LLC Sells 737 Shares of FedEx Co. (NYSE:FDX)

Kingswood Wealth Advisors LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,109 shares of the shipping service provider’s stock after selling 737 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in FedEx were worth $611,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FDX. Scarborough Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter worth about $25,000. Fortis Group Advisors LLC increased its holdings in FedEx by 100.0% during the 4th 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 in the last quarter. Financial Management Professionals Inc. raised its stake 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 worth $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FedEx during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $296.19 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $296.86. The stock has a market cap of $72.89 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16. The stock has a fifty day moving average of $256.13 and a 200-day moving average of $255.72.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the previous year, the firm earned $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 20.26 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared 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 represents a $5.52 annualized dividend and a yield of 1.86%. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx declared that its board has initiated a share repurchase program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on FDX. Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday. BMO Capital Markets raised their price target on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday. Morgan Stanley lifted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $313.09.

Insider Activity

In related news, Chairman Frederick W. Smith sold 113,400 shares of the 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 sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’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 value of $31,105,620.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, 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. Insiders sold 117,275 shares of company stock worth $32,177,298 in the last three months. Corporate insiders own 8.73% of the company’s stock.

FedEx Company Profile

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.