FedEx Co. (NYSE:FDX) Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC increased its stake in FedEx Co. (NYSE:FDX) by 0.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,030 shares of the shipping service provider’s stock after acquiring an additional 63 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in FedEx were worth $4,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Aviance Capital Partners LLC raised its position in shares of FedEx by 11.5% in the first quarter. Aviance Capital Partners LLC now owns 8,851 shares of the shipping service provider’s stock valued at $2,565,000 after purchasing an additional 913 shares during the period. Roberts Wealth Advisors LLC bought a new position in shares of FedEx during the 1st quarter worth about $1,548,000. SteelPeak Wealth LLC lifted its holdings in shares of FedEx by 19.0% during the 1st quarter. SteelPeak Wealth LLC now owns 5,994 shares of the shipping service provider’s stock worth $1,744,000 after acquiring an additional 955 shares during the period. Financial Partners Group LLC lifted its holdings in FedEx by 3.0% during the 1st quarter. Financial Partners Group LLC now owns 36,523 shares of the shipping service provider’s stock valued at $10,582,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Breakwater Capital Group lifted its holdings in FedEx by 7.7% during the 1st quarter. Breakwater Capital Group now owns 925 shares of the shipping service provider’s stock valued at $268,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, 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 transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following 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 filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,810 shares of company stock worth $32,924,413. 8.73% of the stock is owned by insiders.

FedEx Stock Down 0.3 %

Shares of NYSE FDX traded down $0.80 during mid-day trading on Monday, reaching $299.04. 1,099,033 shares of the company were exchanged, compared to its average volume of 1,946,146. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock has a market cap of $73.59 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.10 and a beta of 1.18. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41. The firm has a 50-day moving average of $258.10 and a 200 day moving average of $256.24.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the business posted $4.94 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 20.67 earnings per share for the current year.

FedEx announced that its board has approved a share buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FDX shares. BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Robert W. Baird upped their price objective on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. The Goldman Sachs Group upped their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Raymond James cut their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx 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.