Westhampton Capital LLC Sells 187 Shares of FedEx Co. (NYSE:FDX)

Westhampton Capital LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,720 shares of the shipping service provider’s stock after selling 187 shares during the period. Westhampton Capital LLC’s holdings in FedEx were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FDX. Fortis Group Advisors LLC boosted its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. boosted its holdings 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. Private Wealth Management Group LLC bought a new position in FedEx during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx in the 4th quarter valued at about $30,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Raymond James cut their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Jefferies Financial Group increased their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Robert W. Baird raised their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. BNP Paribas restated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Finally, Evercore ISI decreased their price target on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Down 0.3 %

Shares of FDX traded down $0.99 during mid-day trading on Tuesday, hitting $297.69. 882,597 shares of the company’s stock were exchanged, compared to its average volume of 1,948,161. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $73.26 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 1.10 and a beta of 1.18. The stock’s 50-day moving average is $258.10 and its 200-day moving average is $256.24. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $302.41.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $4.94 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.85%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx declared that its Board of Directors has approved a share 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 buy up to 7.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred 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 transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The stock was 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 of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold 135,820 shares of company stock valued at $37,639,038 in the last ninety days. 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.