FedEx Co. (NYSE:FDX) Stock Holdings Trimmed by First Dallas Securities Inc.

First Dallas Securities Inc. lessened its position in FedEx Co. (NYSE:FDX) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,181 shares of the shipping service provider’s stock after selling 149 shares during the period. First Dallas Securities Inc.’s holdings in FedEx were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. Operose Advisors LLC bought a new stake in shares of FedEx in the 3rd quarter worth $52,000. O Shaughnessy Asset Management LLC raised its stake in shares of FedEx by 70.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after buying an additional 5,003 shares in the last quarter. Mather Group LLC. raised its stake in shares of FedEx by 92.3% in the 3rd quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock worth $1,031,000 after buying an additional 1,868 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of FedEx by 25.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 15,640 shares of the shipping service provider’s stock worth $4,143,000 after buying an additional 3,182 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank grew its holdings in shares of FedEx by 106.1% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 2,358 shares of the shipping service provider’s stock worth $625,000 after acquiring an additional 1,214 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.5 %

Shares of NYSE:FDX traded up $4.37 on Friday, reaching $299.84. The company had a trading volume of 4,278,920 shares, compared to its average volume of 2,248,979. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $302.41. The stock has a 50-day moving average price of $258.10 and a 200 day moving average price of $256.48. The stock has a market capitalization of $73.78 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. 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 announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm earned $4.94 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that FedEx Co. will post 20.51 EPS for the current year.

FedEx announced that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

Insider Buying and Selling

In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the transaction, the chief executive officer now directly 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 available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,810 shares of company stock valued at $32,924,413. Insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird lifted their target price on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group decreased their target price on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $296.00 to $359.00 in a report on Wednesday. The Goldman Sachs Group lifted their target price on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $327.00 target price (up from $303.00) on shares of FedEx in a report on Wednesday. One equities research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.