Silverleafe Capital Partners LLC Has $20.07 Million Stock Position in FedEx Co. (NYSE:FDX)

Silverleafe Capital Partners LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,274 shares of the shipping service provider’s stock after acquiring an additional 60 shares during the quarter. FedEx comprises 8.2% of Silverleafe Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Silverleafe Capital Partners LLC’s holdings in FedEx were worth $20,071,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after buying an additional 59,161 shares during the period. Sentry LLC acquired a new position in shares of FedEx during the fourth quarter worth approximately $1,811,748,000. Capital International Investors lifted its holdings in shares of FedEx by 15.2% in the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after purchasing an additional 880,894 shares in the last quarter. Morgan Stanley increased its stake in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after purchasing an additional 35,085 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FDX shares. Stephens reissued an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday. Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Bank of America lifted their price objective on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday. Finally, Robert W. Baird upped their target price on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

Shares of FedEx stock opened at $299.84 on Friday. The stock has a market capitalization of $73.78 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The business’s 50 day simple moving average is $258.10 and its two-hundred day simple moving average is $256.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26. FedEx Co. has a one year low of $224.69 and a one year high of $302.41.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the prior year, the company earned $4.94 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that FedEx Co. will post 20.51 EPS for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.84%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

FedEx announced that its board has approved a share buyback plan 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 reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of 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 legal filing with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 119,810 shares of company stock valued at $32,924,413 in the last three months. 8.73% of the stock is currently owned by company insiders.

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.