CFO4Life Group LLC Sells 116 Shares of FedEx Co. (NYSE:FDX)

CFO4Life Group LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,712 shares of the shipping service provider’s stock after selling 116 shares during the period. CFO4Life Group LLC’s holdings in FedEx were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Mawer Investment Management Ltd. increased its stake in shares of FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the period. Staley Capital Advisers Inc. increased its stake in shares of FedEx by 12.1% during the first quarter. Staley Capital Advisers Inc. now owns 240,913 shares of the shipping service provider’s stock worth $69,802,000 after purchasing an additional 25,943 shares during the period. Manchester Capital Management LLC increased its stake in FedEx by 15.1% during the 1st quarter. Manchester Capital Management LLC now owns 603 shares of the shipping service provider’s stock worth $175,000 after acquiring an additional 79 shares during the period. Mittelman Wealth Management bought a new position in FedEx during the 1st quarter worth $947,000. Finally, Cohen Capital Management Inc. increased its stake in FedEx by 1.0% during the 1st quarter. Cohen Capital Management Inc. now owns 10,334 shares of the shipping service provider’s stock worth $2,994,000 after acquiring an additional 102 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

FDX traded up $0.29 during midday trading on Friday, reaching $299.83. 710,797 shares of the company were exchanged, compared to its average volume of 1,925,190. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company’s fifty day moving average price is $263.50 and its 200 day moving average price is $258.20. The company has a market cap of $73.78 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. FedEx Co. has a one year low of $224.69 and a one year high of $302.41.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $4.94 EPS. As a group, analysts expect that FedEx Co. will post 20.94 EPS for the current year.

FedEx declared that its board has approved a stock repurchase 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, June 24th. FedEx’s payout ratio is currently 32.04%.

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred 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 owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 22,565 shares of company stock worth $6,662,844 in the last 90 days. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BMO Capital Markets raised their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Robert W. Baird raised their target price on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. The Goldman Sachs Group raised their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, TD Cowen raised their target price on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

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.