Chatham Capital Group Inc. Reduces Stake in FedEx Co. (NYSE:FDX)

Chatham Capital Group Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,841 shares of the shipping service provider’s stock after selling 680 shares during the quarter. Chatham Capital Group Inc.’s holdings in FedEx were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $25,000. Fortis Group Advisors LLC lifted its stake in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $30,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $299.84 on Monday. The firm’s 50-day moving average price is $258.10 and its two-hundred day moving average price is $256.24. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41. The stock has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.10 and a beta of 1.18. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced 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. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.94 EPS. As a group, equities analysts predict that FedEx Co. will post 20.67 earnings per share for the current year.

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

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be paid a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s payout ratio is presently 32.04%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following 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 this hyperlink. In other 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 owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’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. Insiders have sold 119,810 shares of company stock valued at $32,924,413 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on FDX shares. Jefferies Financial Group upped their price target on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Argus increased their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen increased their target price on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. BMO Capital Markets increased their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company increased their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

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.