Hapanowicz & Associates Financial Services Inc Buys Shares of 882 FedEx Co. (NYSE:FDX)

Hapanowicz & Associates Financial Services Inc purchased a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 882 shares of the shipping service provider’s stock, valued at approximately $223,000. FedEx comprises 0.1% of Hapanowicz & Associates Financial Services Inc’s portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of FedEx by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after acquiring an additional 59,161 shares during the last quarter. FMR LLC increased its stake in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares during the last quarter. Morgan Stanley increased its stake in FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after purchasing an additional 559,607 shares in the last quarter. Invesco Ltd. increased its stake in FedEx by 13.6% during the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after purchasing an additional 360,680 shares in the last quarter. Finally, Northern Trust Corp increased its stake in FedEx by 2.6% during the 3rd quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock worth $624,180,000 after purchasing an additional 60,201 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Stifel Nicolaus lowered their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Bank of America lowered their target price on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Stephens lowered their target price on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. reduced their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

Insiders Place Their Bets

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, 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. Over the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of FedEx stock traded up $0.30 on Thursday, reaching $263.37. 1,045,982 shares of the stock were exchanged, compared to its average volume of 2,085,661. The firm’s 50 day moving average is $258.30 and its 200-day moving average is $254.11. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market cap of $64.81 billion, a PE ratio of 15.17, a P/E/G ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

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

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.