Verdence Capital Advisors LLC Sells 84 Shares of FedEx Co. (NYSE:FDX)

Verdence Capital Advisors LLC reduced its stake in FedEx Co. (NYSE:FDX) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,310 shares of the shipping service provider’s stock after selling 84 shares during the period. Verdence Capital Advisors LLC’s holdings in FedEx were worth $331,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FDX. Capital Investment Advisors LLC increased its holdings in shares of FedEx by 20.8% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,344 shares of the shipping service provider’s stock worth $356,000 after buying an additional 231 shares during the last quarter. Cedar Brook Financial Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $319,000. CreativeOne Wealth LLC boosted its stake in shares of FedEx by 311.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,071 shares of the shipping service provider’s stock worth $2,138,000 after purchasing an additional 6,108 shares during the period. Exchange Traded Concepts LLC grew its holdings in FedEx by 141,685.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 28,357 shares of the shipping service provider’s stock valued at $7,512,000 after purchasing an additional 28,337 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in FedEx by 6.3% during the 3rd quarter. Private Trust Co. NA now owns 2,505 shares of the shipping service provider’s stock valued at $664,000 after purchasing an additional 149 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on FDX shares. Evercore ISI upped their price target on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. UBS Group upped their price target on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Stifel Nicolaus cut their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Morgan Stanley upped their price target on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.6 %

NYSE:FDX opened at $271.67 on Wednesday. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The firm has a 50 day moving average of $260.44 and a 200 day moving average of $254.28. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $66.85 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its earnings results 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 net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the company posted $3.41 earnings per share. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.86%. FedEx’s payout ratio is 29.07%.

FedEx announced that its board has authorized a share buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire 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 shares are undervalued.

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.