O ROURKE & COMPANY Inc Sells 97 Shares of FedEx Co. (NYSE:FDX)

O ROURKE & COMPANY Inc lowered its position in FedEx Co. (NYSE:FDX) by 9.7% in the first quarter, HoldingsChannel.com reports. The fund owned 899 shares of the shipping service provider’s stock after selling 97 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in FedEx were worth $260,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in FedEx by 0.3% in 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 purchasing an additional 59,161 shares during the last quarter. Sentry LLC bought a new position in FedEx in the 4th quarter worth approximately $1,811,748,000. Capital International Investors raised its position in 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 during the last quarter. Morgan Stanley raised its position in FedEx by 1.1% in the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after purchasing an additional 35,085 shares during the last quarter. Finally, Putnam Investments LLC raised its position in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock traded down $1.10 during trading on Monday, hitting $298.74. 2,466,996 shares of the stock were exchanged, compared to its average volume of 1,957,089. The stock has a market capitalization of $73.51 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a fifty day moving average price of $258.10 and a 200-day moving average price of $256.24. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.94 EPS. As a group, equities analysts predict that FedEx Co. will post 20.67 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be paid a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.85%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

FedEx announced that its board has approved a share repurchase 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 purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FDX. Jefferies Financial Group boosted their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Robert W. Baird raised their price target on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. UBS Group dropped their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Barclays raised their target price on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Argus upped their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were 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 approximately $23,542,999.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,820 shares of company stock worth $37,639,038. Insiders own 8.73% of the company’s stock.

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.