Hodges Capital Management Inc. Acquires 4,867 Shares of FedEx Corporation $FDX

Hodges Capital Management Inc. grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 80.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,924 shares of the shipping service provider’s stock after purchasing an additional 4,867 shares during the period. Hodges Capital Management Inc.’s holdings in FedEx were worth $3,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Applied Finance Capital Management LLC acquired a new position in FedEx in the 3rd quarter valued at about $727,000. Sivia Capital Partners LLC acquired a new position in FedEx in the 2nd quarter valued at about $586,000. Franklin Resources Inc. grew its stake in FedEx by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after buying an additional 269,567 shares during the last quarter. CWM LLC grew its stake in FedEx by 32.2% in the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after buying an additional 26,322 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after buying an additional 6,864 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Jefferies Financial Group upped their price target on shares of FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Barclays upgraded shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Stephens restated an “overweight” rating and set a $435.00 target price on shares of FedEx in a research report on Tuesday, April 14th. Finally, Citigroup assumed coverage on shares of FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $372.41.

FedEx Stock Performance

Shares of NYSE:FDX opened at $319.70 on Thursday. The company’s 50 day moving average price is $372.63 and its two-hundred day moving average price is $342.19. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $341.14. The firm has a market cap of $76.28 billion, a PE ratio of 17.01, a PEG ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $4.51 EPS. Equities research analysts predict that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a dividend of $1.22 per share. The ex-dividend date is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new labor contract, ending a long dispute and reducing uncertainty around one major operating issue for the company. FedEx pilots ratify new wage deal, union says
• Positive Sentiment: FedEx also updated its annual dividend after the FedEx Freight spin-off, reinforcing shareholder returns and signaling management confidence in cash generation. FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: Commentary from Jim Cramer and a Zacks value-stock note were supportive of FedEx’s long-term investment case, but they are not major fundamental catalysts on their own. Jim Cramer Says “I’m Proud That We Held on to Our FedEx Freight” Here’s Why FedEx (FDX) is a Strong Value Stock
• Neutral Sentiment: FedEx’s structural changes, including the Freight spin-off and an air-logistics partnership in Asia Pacific, may help the business over time but are not immediate stock-moving catalysts. FedEx Reshapes Freight And Asia Pacific Strategy As Valuation Gap Persists
• Negative Sentiment: Amazon’s expanded trucking and less-than-truckload service is sparking a selloff across transport stocks and creating fresh competitive pressure for FedEx and other logistics companies. Amazon’s Trucking Push Sparks New Slide in Transport Stocks
• Negative Sentiment: Old Dominion, Saia, and XPO fell sharply after Amazon opened its less-than-truckload service more broadly, highlighting investor concern that Amazon could intensify competition in freight markets relevant to FedEx. Amazon LTL expansion hits Old Dominion, Saia, and FedEx Freight stocks

Insider Activity

In related news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company’s stock.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.