FedEx Co. (NYSE:FDX) Shares Sold by Webster Bank N. A.

Webster Bank N. A. trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,677 shares of the shipping service provider’s stock after selling 200 shares during the period. Webster Bank N. A.’s holdings in FedEx were worth $486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of FedEx by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after purchasing an additional 59,161 shares in the last quarter. Sentry LLC acquired a new position in FedEx during the fourth quarter valued at $1,811,748,000. Capital International Investors lifted its stake in FedEx by 15.2% in the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after acquiring an additional 880,894 shares in the last quarter. Morgan Stanley boosted its position in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after acquiring an additional 35,085 shares during the period. Finally, Putnam Investments LLC grew its stake in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx 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 value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,810 shares of company stock worth $32,924,413. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America increased their target price on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lowered their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Company increased their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Morgan Stanley boosted their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Performance

Shares of FDX opened at $299.84 on Friday. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company’s fifty day moving average price is $258.10 and its 200 day moving average price is $256.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the company posted $4.94 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 20.51 earnings per share for the current year.

FedEx announced that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is currently 32.04%.

FedEx 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.