OVERSEA CHINESE BANKING Corp Ltd Reduces Position in FedEx Co. (NYSE:FDX)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 23.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,011 shares of the shipping service provider’s stock after selling 898 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in FedEx were worth $762,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in shares of FedEx by 143.2% during the fourth 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 period. Rakuten Securities Inc. purchased a new stake in FedEx in the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners purchased a new stake in FedEx in the fourth quarter worth $31,000. Planned Solutions Inc. purchased a new stake in FedEx in the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. lifted its stake in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.4 %

Shares of NYSE:FDX opened at $266.99 on Monday. The stock has a market capitalization of $65.70 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock’s 50-day simple moving average is $259.22 and its two-hundred day simple moving average is $254.10. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $3.41 earnings per share. Analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx announced that its board has approved a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.89%. FedEx’s payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s 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 sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock worth $37,758,773 over the last quarter. Company insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Barclays increased their price objective on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.33.

Get Our Latest Report on FedEx

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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