Abbrea Capital LLC Has $3.97 Million Holdings in FedEx Co. (NYSE:FDX)

Abbrea Capital LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,596 shares of the shipping service provider’s stock after purchasing an additional 95 shares during the quarter. Abbrea Capital LLC’s holdings in FedEx were worth $3,965,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. increased its holdings in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx during the fourth quarter worth $31,000. Planned Solutions Inc. acquired a new position in shares of FedEx during the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. increased its holdings in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Up 0.1 %

FDX stock traded up $0.32 during mid-day trading on Friday, reaching $265.84. 957,980 shares of the company traded hands, compared to its average volume of 2,028,186. The stock has a market cap of $65.42 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The firm’s 50 day moving average price is $261.61 and its 200 day moving average price is $254.44.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.60% and a net margin of 5.02%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 EPS. As a group, equities research analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

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

FedEx announced that its board has approved a share repurchase program 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 buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. UBS Group increased their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Transactions at FedEx

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 value of $31,105,620.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark R. Allen sold 10,145 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total value of $2,914,455.60. Following the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 directly 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 have sold 136,668 shares of company stock worth $37,758,773 in the last 90 days. Insiders own 8.73% of the company’s stock.

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.