FedEx Co. (NYSE:FDX) Stock Position Reduced by Chapin Davis Inc.

Chapin Davis Inc. reduced its position in FedEx Co. (NYSE:FDX) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,555 shares of the shipping service provider’s stock after selling 148 shares during the period. Chapin Davis Inc.’s holdings in FedEx were worth $1,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. KRS Capital Management LLC boosted its stake in shares of FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. grew its position in FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares during the last quarter. Toth Financial Advisory Corp grew its position in FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares during the last quarter. SVB Wealth LLC increased its position in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after acquiring an additional 44 shares during the period. Finally, Integrated Investment Consultants LLC raised its position in FedEx by 2.7% during the 4th quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock worth $437,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FDX shares. Bank of America boosted their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 target price (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group lifted their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Evercore ISI cut their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

FedEx stock opened at $299.00 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $73.58 billion, a P/E ratio of 17.40, a PEG ratio of 1.10 and a beta of 1.18. The company has a 50-day moving average price of $258.10 and a 200 day moving average price of $256.24. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the business earned $4.94 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 20.67 earnings per share for the current year.

FedEx Increases Dividend

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

FedEx declared that its Board of Directors has approved a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,810 shares of company stock valued at $32,924,413. 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.