Team Hewins LLC Buys New Holdings in FedEx Co. (NYSE:FDX)

by · The Markets Daily

Team Hewins LLC bought a new stake in FedEx Co. (NYSE:FDX – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 927 shares of the shipping service provider’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Western Wealth Management LLC increased its holdings in FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. bought a new stake in FedEx during the 4th quarter worth approximately $282,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter worth approximately $32,000. Skba Capital Management LLC increased its holdings in FedEx by 0.3% during the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after purchasing an additional 100 shares in the last quarter. Finally, EFG Asset Management North America Corp. increased its holdings in FedEx by 173.2% during the 4th quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after purchasing an additional 4,831 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.7 %

Shares of NYSE:FDX traded down $1.70 on Friday, reaching $247.59. 1,096,590 shares of the company traded hands, compared to its average volume of 1,253,289. The business’s 50-day simple moving average is $266.81 and its 200 day simple moving average is $256.76. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The stock has a market capitalization of $60.93 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were 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 directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were 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 directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark R. Allen sold 10,145 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FDX. TD Cowen boosted their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Robert W. Baird increased their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, Bank of America dropped their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.74.

Get Our Latest Report on FDX

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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