Sigma Planning Corp Sells 5,748 Shares of FedEx Co. (NYSE:FDX)

Sigma Planning Corp reduced its stake in FedEx Co. (NYSE:FDX) by 69.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,504 shares of the shipping service provider’s stock after selling 5,748 shares during the period. Sigma Planning Corp’s holdings in FedEx were worth $633,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after buying an additional 13,197 shares during the last quarter. Western Wealth Management LLC increased its holdings in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares during the last quarter. Trust Point Inc. bought a new stake in shares of FedEx in the 4th quarter worth about $282,000. Planned Solutions Inc. bought a new stake in shares of FedEx in the 4th quarter worth about $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after buying an additional 13,642 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on 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 owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. UBS Group upped their price target on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus cut their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

Shares of FDX opened at $266.10 on Thursday. The company has a 50 day moving average price of $261.03 and a 200-day moving average price of $254.36. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The stock has a market capitalization of $65.48 billion, a PE ratio of 15.35, a PEG ratio of 1.28 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.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.41 EPS. Equities analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has initiated a share buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign 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. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.89%. FedEx’s payout ratio is 29.07%.

FedEx 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.