Navalign LLC Purchases 90 Shares of FedEx Co. (NYSE:FDX)

Navalign LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 3.4% in the 1st quarter, Holdings Channel reports. The firm owned 2,704 shares of the shipping service provider’s stock after buying an additional 90 shares during the period. Navalign LLC’s holdings in FedEx were worth $784,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its stake in FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Western Wealth Management LLC lifted its stake in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after acquiring an additional 333 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of FedEx during the 4th quarter valued at $282,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter worth $32,000. Finally, EFG Asset Management North America Corp. increased its holdings in FedEx by 173.2% in 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. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on 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 transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Up 1.2 %

Shares of FDX stock traded up $2.97 on Monday, reaching $256.63. 1,895,913 shares of the company were exchanged, compared to its average volume of 1,803,829. FedEx Co. has a one year low of $224.69 and a one year high of $291.27. The company has a market cap of $63.15 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.92 and a beta of 1.16. The company has a 50-day moving average of $256.30 and a 200-day moving average of $255.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 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 during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the firm posted $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 17.76 earnings per share for the current year.

FedEx declared that its board has authorized a stock repurchase program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 2.15%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Ratings Changes

Several research firms have recently weighed in on FDX. UBS Group reduced their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Stifel Nicolaus dropped their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Robert W. Baird boosted their price objective on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley raised their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Finally, TD Cowen upped their price target on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.88.

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.