St. Johns Investment Management Company LLC Purchases 69 Shares of FedEx Co. (NYSE:FDX)

St. Johns Investment Management Company LLC boosted its position in FedEx Co. (NYSE:FDX) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,487 shares of the shipping service provider’s stock after purchasing an additional 69 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in FedEx were worth $1,010,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in shares of FedEx by 19.6% during 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 period. Operose Advisors LLC bought a new stake in shares of FedEx during the 3rd quarter valued at $52,000. O Shaughnessy Asset Management LLC lifted its position in shares of FedEx by 70.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock valued at $3,213,000 after acquiring an additional 5,003 shares during the period. Mather Group LLC. lifted its position in shares of FedEx by 92.3% during the 3rd quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock worth $1,031,000 after buying an additional 1,868 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in shares of FedEx by 25.3% during the 3rd quarter. Vinva Investment Management Ltd now owns 6,433 shares of the shipping service provider’s stock worth $1,714,000 after buying an additional 1,300 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 117,275 shares of company stock valued at $32,177,298 over the last 90 days. Company insiders own 8.73% of the company’s stock.

FedEx Trading Up 15.5 %

Shares of FDX stock opened at $296.19 on Thursday. The stock has a 50-day moving average of $256.13 and a 200-day moving average of $255.72. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $296.86. The stock has a market cap of $72.89 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.93 and a beta of 1.16. 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 released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $22.04 billion. During the same quarter last year, the firm posted $4.94 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 20.26 earnings per share for the current year.

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

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 paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.86%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a research report on Wednesday. TD Cowen upped their price objective on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research report on Wednesday. Robert W. Baird upped their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, BNP Paribas restated an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $313.09.

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.