FedEx Co. (NYSE:FDX) Holdings Boosted by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,030 shares of the shipping service provider’s stock after acquiring an additional 63 shares during the period. Oliver Luxxe Assets LLC’s holdings in FedEx were worth $4,934,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Aviance Capital Partners LLC raised its holdings in shares of FedEx by 11.5% during the first quarter. Aviance Capital Partners LLC now owns 8,851 shares of the shipping service provider’s stock valued at $2,565,000 after buying an additional 913 shares during the last quarter. Roberts Wealth Advisors LLC bought a new stake in FedEx during the first quarter worth approximately $1,548,000. SteelPeak Wealth LLC raised its holdings in FedEx by 19.0% during the first quarter. SteelPeak Wealth LLC now owns 5,994 shares of the shipping service provider’s stock worth $1,744,000 after purchasing an additional 955 shares in the last quarter. Financial Partners Group LLC grew its position in FedEx by 3.0% in the first quarter. Financial Partners Group LLC now owns 36,523 shares of the shipping service provider’s stock worth $10,582,000 after buying an additional 1,065 shares during the last quarter. Finally, Breakwater Capital Group grew its position in FedEx by 7.7% in the first quarter. Breakwater Capital Group now owns 925 shares of the shipping service provider’s stock worth $268,000 after buying an additional 66 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Paul S. Walsh sold 2,535 shares of the firm’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 completion of the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 119,810 shares of company stock worth $32,924,413 over the last quarter. 8.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. Robert W. Baird upped their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Morgan Stanley lifted their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Jefferies Financial Group lifted their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, UBS Group reduced their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx Price Performance

Shares of FDX stock traded down $0.80 during trading hours on Monday, reaching $299.04. 1,099,033 shares of the company were exchanged, compared to its average volume of 1,946,146. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $302.41. The stock’s fifty day moving average is $258.10 and its two-hundred day moving average is $256.24. The company has a market cap of $73.59 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $4.94 earnings per share. Sell-side analysts forecast that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx declared that its board has approved a share 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 repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be issued a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.85%. FedEx’s dividend payout ratio is presently 32.04%.

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.