KRS Capital Management LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

KRS Capital Management LLC lowered its position in FedEx Co. (NYSE:FDX) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 908 shares of the shipping service provider’s stock after selling 133 shares during the quarter. KRS Capital Management LLC’s holdings in FedEx were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zullo Investment Group Inc. grew its holdings in shares of FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after acquiring an additional 42 shares during the last quarter. Toth Financial Advisory Corp raised its position in FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after buying an additional 44 shares during the period. SVB Wealth LLC raised its position in FedEx by 2.5% during the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares during the period. Integrated Investment Consultants LLC raised its position in FedEx by 2.7% during the fourth quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock valued at $437,000 after buying an additional 46 shares during the period. Finally, Edmp Inc. raised its position in FedEx by 0.9% during the fourth quarter. Edmp Inc. now owns 5,144 shares of the shipping service provider’s stock valued at $1,301,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,810 shares of company stock valued at $32,924,413. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FDX shares. Jefferies Financial Group upped 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. UBS Group dropped their target price on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $296.00 to $359.00 in a research note on Wednesday. Barclays upped their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, Evercore ISI decreased their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

FDX stock traded up $4.37 during midday trading on Friday, reaching $299.84. 4,278,920 shares of the company’s stock traded hands, compared to its average volume of 2,248,979. The company has a 50-day simple moving average of $258.10 and a two-hundred day simple moving average of $256.48. The company has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.09 and a beta of 1.16. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $4.94 EPS. On average, analysts anticipate that FedEx Co. will post 20.51 earnings per share for the current year.

FedEx announced that its board has initiated a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

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

About FedEx

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.