Plimoth Trust Co. LLC Sells 70 Shares of FedEx Co. (NYSE:FDX)

Plimoth Trust Co. LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,464 shares of the shipping service provider’s stock after selling 70 shares during the period. Plimoth Trust Co. LLC’s holdings in FedEx were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in FedEx during the fourth quarter worth $25,000. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% in 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 during the last quarter. Private Wealth Management Group LLC bought a new position in FedEx in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at $30,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In related news, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the transaction, the director now owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 135,864 shares of company stock valued at $37,677,934 over the last three months. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FDX. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Raymond James reduced their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. UBS Group lowered their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Evercore ISI lowered their price objective on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Finally, The Goldman Sachs Group increased their target price on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Stock Down 1.5 %

FDX opened at $293.68 on Thursday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The firm’s 50 day simple moving average is $259.20 and its two-hundred day simple moving average is $256.49. 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 company has a market capitalization of $72.27 billion, a PE ratio of 17.04, a PEG ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping 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 business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the prior year, the business posted $4.94 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that FedEx Co. will post 20.67 EPS for the current year.

FedEx announced that its board has authorized a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The company 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 $1.38 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio is presently 32.04%.

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.