Cambridge Financial Group Inc. Cuts Position in FedEx Co. (NYSE:FDX)

Cambridge Financial Group Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,695 shares of the shipping service provider’s stock after selling 1,000 shares during the quarter. FedEx comprises approximately 2.9% of Cambridge Financial Group Inc.’s holdings, making the stock its 24th largest holding. Cambridge Financial Group Inc.’s holdings in FedEx were worth $5,741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. increased its position in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of FedEx during the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the 4th quarter worth $31,000. Planned Solutions Inc. acquired a new stake in FedEx in the 4th quarter valued at $32,000. Finally, Valley National Advisers Inc. raised its position in FedEx by 123.3% in the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. BNP Paribas reiterated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Stifel Nicolaus lowered their price objective on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. BMO Capital Markets upped their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Robert W. Baird lifted their price target 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. Finally, TD Cowen boosted their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $301.33.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock traded down $1.38 on Friday, reaching $260.65. 1,085,243 shares of the company were exchanged, compared to its average volume of 1,311,143. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The firm has a market cap of $64.14 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company’s 50-day moving average is $264.27 and its two-hundred day moving average is $255.03.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the company earned $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx announced that its board has initiated a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.