Fisher Asset Management LLC Has $259,000 Holdings in FedEx Co. (NYSE:FDX)

Fisher Asset Management LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,024 shares of the shipping service provider’s stock after selling 792 shares during the period. Fisher Asset Management LLC’s holdings in FedEx were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FDX. Fortis Group Advisors LLC lifted its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. boosted its stake in shares of FedEx by 143.2% in the 4th 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 acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx during the fourth quarter worth $30,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on FDX shares. UBS Group decreased their price target on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Morgan Stanley lifted their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. TD Cowen raised their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays lifted their price objective 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. Finally, The Goldman Sachs Group raised 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.88.

Insider Buying and Selling at FedEx

In related news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated 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 directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated 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 directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 127,774 shares of company stock worth $35,194,126 in the last quarter. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Performance

NYSE FDX opened at $256.46 on Wednesday. The company has a fifty day moving average price of $256.13 and a 200-day moving average price of $255.72. The firm has a market cap of $63.11 billion, a price-to-earnings ratio of 14.79, a PEG 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 $224.69 and a 1 year high of $291.27.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the firm posted $4.94 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 2.15%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has initiated a share buyback plan 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 repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.