FedEx Co. (NYSE:FDX) Shares Sold by Bradley & Co. Private Wealth Management LLC

Bradley & Co. Private Wealth Management LLC lessened its stake in FedEx Co. (NYSE:FDX) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,766 shares of the shipping service provider’s stock after selling 550 shares during the quarter. FedEx comprises approximately 0.6% of Bradley & Co. Private Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Bradley & Co. Private Wealth Management LLC’s holdings in FedEx were worth $700,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in FedEx by 0.3% during 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 acquiring an additional 59,161 shares during the period. Sentry LLC acquired a new stake in FedEx during the 4th quarter worth approximately $1,811,748,000. FMR LLC increased its position in FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Morgan Stanley lifted its position in FedEx by 1.1% during the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after buying an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after acquiring an additional 360,680 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated 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 sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’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 transaction, the chairman now directly 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 accessible through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred 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 owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on FDX shares. TD Cowen upped their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. BMO Capital Markets boosted their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Barclays increased their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Stifel Nicolaus reduced their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Performance

FedEx stock traded down $0.55 during mid-day trading on Thursday, reaching $265.52. The company’s stock had a trading volume of 876,084 shares, compared to its average volume of 2,041,564. The firm has a market cap of $65.34 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.28 and a beta of 1.21. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The business has a 50 day moving average price of $261.61 and a 200-day moving average price of $254.44. 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 announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx declared that its board has approved a stock buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

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.