BCS Wealth Management Boosts Stake in FedEx Co. (NYSE:FDX)

BCS Wealth Management raised its position in shares of FedEx Co. (NYSE:FDX) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,048 shares of the shipping service provider’s stock after acquiring an additional 70 shares during the period. BCS Wealth Management’s holdings in FedEx were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC grew 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 acquiring an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in FedEx during the fourth quarter valued at about $25,000. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FDX opened at $253.67 on Friday. The company has a market capitalization of $62.42 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 1-year low of $224.40 and a 1-year high of $291.27. The business has a 50 day moving average price of $256.50 and a two-hundred day moving average price of $256.06.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the prior year, the firm posted $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 29.07%.

FedEx declared that its board has approved a stock buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Barclays boosted their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. TD Cowen boosted their price target on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, UBS Group cut their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $304.21.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 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.