Hodges Capital Management Inc. boosted its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 80.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,924 shares of the shipping service provider’s stock after acquiring 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 filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in FedEx during the 3rd quarter worth $28,000. Ameriflex Group Inc. grew its holdings in FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the period. Ulland Investment Advisors LLC acquired a new stake in FedEx during the 4th quarter worth $29,000. Tucker Asset Management LLC acquired a new stake in FedEx during the 4th quarter worth $29,000. Finally, ORG Partners LLC grew its holdings in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.
More FedEx News
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
FedEx Trading Down 3.6%
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 EPS. As a group, research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.
FedEx Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is currently 30.87%.
Insider Activity at FedEx
In related news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. Bank of America decreased their price target on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $432.00 to $460.00 in a report on Wednesday, May 27th. Argus boosted their price target on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.41.
View Our Latest Stock Report on FedEx
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.
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