CFO4Life Group LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

CFO4Life Group LLC trimmed its position in FedEx Co. (NYSE:FDX) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,712 shares of the shipping service provider’s stock after selling 116 shares during the period. CFO4Life Group LLC’s holdings in FedEx were worth $496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mawer Investment Management Ltd. grew its position in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the last quarter. Staley Capital Advisers Inc. lifted its holdings in FedEx by 12.1% in the first quarter. Staley Capital Advisers Inc. now owns 240,913 shares of the shipping service provider’s stock valued at $69,802,000 after acquiring an additional 25,943 shares during the period. Manchester Capital Management LLC lifted its holdings in FedEx by 15.1% in the first quarter. Manchester Capital Management LLC now owns 603 shares of the shipping service provider’s stock valued at $175,000 after acquiring an additional 79 shares during the period. Mittelman Wealth Management acquired a new stake in FedEx in the first quarter valued at $947,000. Finally, Cohen Capital Management Inc. lifted its holdings in FedEx by 1.0% in the first quarter. Cohen Capital Management Inc. now owns 10,334 shares of the shipping service provider’s stock valued at $2,994,000 after acquiring an additional 102 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the subject of a number of recent analyst reports. Barclays raised their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Evercore ISI reduced their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group lifted their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Stock Performance

Shares of NYSE:FDX traded up $0.29 on Friday, hitting $299.83. The company’s stock had a trading volume of 710,797 shares, compared to its average volume of 1,925,190. The stock’s 50-day moving average is $263.50 and its two-hundred day moving average is $258.20. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $302.41. The company has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the business posted $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. FedEx’s dividend payout ratio is currently 32.04%.

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

Insider Activity

In other news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 22,565 shares of company stock valued at $6,662,844 over the last three months. 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.