Bank Julius Baer & Co. Ltd Zurich Sells 4,198 Shares of FedEx Co. (NYSE:FDX)

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,887 shares of the shipping service provider’s stock after selling 4,198 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in FedEx were worth $28,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Rakuten Securities Inc. acquired a new position in shares of FedEx in the fourth quarter valued at about $30,000. Tennessee Valley Asset Management Partners bought a new position in FedEx during the fourth quarter worth about $31,000. Planned Solutions Inc. acquired a new stake in FedEx in the 4th quarter worth about $32,000. Finally, Valley National Advisers Inc. boosted its holdings in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their price target on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, Barclays upped their target price on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

Insider Activity at FedEx

In other news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.1 %

Shares of FDX traded up $0.23 during trading hours on Friday, hitting $265.75. 958,869 shares of the stock were exchanged, compared to its average volume of 2,028,195. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a 50-day moving average of $261.61 and a 200-day moving average of $254.44. The firm has a market capitalization of $65.40 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm 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 business’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. On average, research analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.90%. FedEx’s dividend payout ratio is presently 29.07%.

FedEx announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About FedEx

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.