TFB Advisors LLC Acquires Shares of 913 FedEx Co. (NYSE:FDX)

TFB Advisors LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 913 shares of the shipping service provider’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its stake in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares in the last quarter. Western Wealth Management LLC raised its stake in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at about $282,000. Planned Solutions Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at about $32,000. Finally, EFG Asset Management North America Corp. raised its stake in shares of FedEx by 173.2% in the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock valued at $1,928,000 after purchasing an additional 4,831 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 0.1 %

Shares of FDX stock traded up $0.43 on Wednesday, hitting $293.16. The company’s stock had a trading volume of 1,466,065 shares, compared to its average volume of 1,934,948. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $302.41. The firm’s fifty day moving average price is $262.10 and its 200-day moving average price is $257.66. The stock has a market capitalization of $72.14 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last released its earnings results 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. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates 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 in the previous year, the business earned $4.94 EPS. Research analysts anticipate that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed 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 is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.88%. FedEx’s payout ratio is presently 32.04%.

FedEx announced that its Board of Directors has authorized a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FDX has been the topic of several research reports. BNP Paribas reiterated an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and raised their price target for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Evercore ISI dropped their price target on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Finally, Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the sale, the director now owns 35,183 shares of the company’s stock, valued at $10,474,330.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,030 shares of company stock worth $5,904,017. 8.73% of the stock is currently owned by company insiders.

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.