FedEx Co. (NYSE:FDX) is Ellerson Group Inc. ADV’s 5th Largest Position

Ellerson Group Inc. ADV raised its position in shares of FedEx Co. (NYSE:FDX) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,390 shares of the shipping service provider’s stock after buying an additional 50 shares during the quarter. FedEx comprises 4.3% of Ellerson Group Inc. ADV’s portfolio, making the stock its 5th biggest holding. Ellerson Group Inc. ADV’s holdings in FedEx were worth $4,905,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. KRS Capital Management LLC boosted its stake in shares of FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after purchasing an additional 41 shares during the period. Zullo Investment Group Inc. increased its stake in FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp boosted its stake in shares of FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the period. SVB Wealth LLC increased its stake in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in FedEx by 42.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after buying an additional 45 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Stifel Nicolaus dropped their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, TD Cowen upped their price target on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Performance

FedEx stock traded down $1.38 during mid-day trading on Friday, hitting $260.65. The company had a trading volume of 1,085,243 shares, compared to its average volume of 1,311,143. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average is $264.27 and its 200-day moving average is $254.90. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The company has a market capitalization of $64.14 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 EPS. Equities research analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

FedEx declared that its board has authorized a stock repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’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 $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FedEx news, 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 transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

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.