Pinnacle Financial Partners Inc Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Pinnacle Financial Partners Inc lessened its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,754 shares of the shipping service provider’s stock after selling 312 shares during the period. Pinnacle Financial Partners Inc’s holdings in FedEx were worth $1,709,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Financial Management Professionals Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 63 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of FedEx during the fourth quarter valued at approximately $32,000. Baystate Wealth Management LLC boosted its position in shares of FedEx by 60.2% during the second quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 50 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in shares of FedEx during the first quarter valued at approximately $35,000. Finally, RVW Wealth LLC purchased a new stake in shares of FedEx in the third quarter worth approximately $40,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other FedEx news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the sale, the executive vice president now owns 36,853 shares in the company, valued at approximately $10,587,129.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the transaction, the executive vice president now owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The disclosure for this sale can be found here. Insiders sold 19,393 shares of company stock worth $5,581,475 in the last 90 days. Insiders own 8.73% of the company’s stock.

FedEx Stock Down 1.7 %

Shares of FDX stock opened at $275.33 on Wednesday. The stock’s fifty day moving average price is $252.00 and its 200 day moving average price is $253.00. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a market cap of $67.75 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. 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 (NYSE:FDXGet Free Report) last issued its quarterly 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. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 earnings per share. On average, research analysts expect that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FDX. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Bank Of America (Bofa) raised their price target on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Monday, January 8th. Finally, The Goldman Sachs Group lifted their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $300.85.

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FedEx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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