Tennessee Valley Asset Management Partners Buys New Position in FedEx Co. (NYSE:FDX)

Tennessee Valley Asset Management Partners bought a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 121 shares of the shipping service provider’s stock, valued at approximately $31,000.

A number of other large investors have also recently made changes to their positions in FDX. Financial Management Professionals Inc. boosted its position 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 valued at $27,000 after purchasing an additional 63 shares during the period. Planned Solutions Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at about $32,000. Valley National Advisers Inc. boosted its position in shares of FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Venturi Wealth Management LLC boosted its position in shares of FedEx by 42.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after purchasing an additional 45 shares during the period. Finally, Briaud Financial Planning Inc acquired a new stake in shares of FedEx in the 3rd quarter valued at about $40,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by insiders.

FedEx Stock Performance

NYSE FDX opened at $271.67 on Wednesday. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a market capitalization of $66.85 billion, a P/E ratio of 15.67, a PEG ratio of 1.26 and a beta of 1.21. The business has a 50 day moving average price of $260.44 and a 200 day moving average price of $254.28. 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:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm 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%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 EPS. Sell-side analysts expect that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx announced that its board has initiated a stock repurchase program 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 buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Upgrades and Downgrades

Several analysts have commented on FDX shares. Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Bank of America reduced their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Barclays upped their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. TD Cowen upped their price objective on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group upped their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned 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.

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.