Wellington Management Group LLP Sells 7,573 Shares of FedEx Co. (NYSE:FDX)

Wellington Management Group LLP lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 395,889 shares of the shipping service provider’s stock after selling 7,573 shares during the period. Wellington Management Group LLP’s holdings in FedEx were worth $100,148,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in FedEx during the fourth quarter valued at about $25,000. Fortis Group Advisors LLC lifted its holdings 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. Financial Management Professionals Inc. lifted its holdings in FedEx by 143.2% during the fourth 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 last quarter. Private Wealth Management Group LLC purchased a new stake in FedEx during the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. purchased a new stake in FedEx during the fourth quarter valued at about $30,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.8 %

Shares of FDX opened at $252.52 on Friday. FedEx Co. has a 1-year low of $223.24 and a 1-year high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s 50 day simple moving average is $256.79 and its 200 day simple moving average is $256.14. The company has a market capitalization of $62.14 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.90 and a beta of 1.16.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the business earned $3.41 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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 given a dividend of $1.38 per share. 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 2.19%. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling at FedEx

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 over the last ninety days. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. Robert W. Baird upped their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group increased their price target on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. The Goldman Sachs Group increased their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, TD Cowen increased their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $301.92.

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.