Diversified Trust Co Sells 315 Shares of FedEx Co. (NYSE:FDX)

Diversified Trust Co decreased its stake in FedEx Co. (NYSE:FDX) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,772 shares of the shipping service provider’s stock after selling 315 shares during the period. Diversified Trust Co’s holdings in FedEx were worth $8,916,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KRS Capital Management LLC lifted its stake in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. lifted its stake in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC lifted its stake 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 purchasing an additional 44 shares during the last quarter. Finally, Integrated Investment Consultants LLC lifted its stake in FedEx by 2.7% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock valued at $437,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FDX. Robert W. Baird raised their price objective on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Bank of America raised their price objective 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. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Barclays raised their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Evercore ISI lowered their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Trading Down 0.2 %

FDX stock traded down $0.66 during midday trading on Monday, hitting $299.18. The stock had a trading volume of 749,210 shares, compared to its average volume of 1,943,347. The business has a fifty day moving average price of $258.10 and a two-hundred day moving average price of $256.24. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The firm has a market cap of $73.62 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for 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 quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.94 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. FedEx’s payout ratio is presently 32.04%.

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

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders sold a total of 119,810 shares of company stock valued at $32,924,413 over the last three months. Corporate 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.