FedEx Co. (NYSE:FDX) Stock Position Boosted by Matthew 25 Management Corp

Matthew 25 Management Corp grew its position in FedEx Co. (NYSE:FDX) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 103,500 shares of the shipping service provider’s stock after purchasing an additional 2,000 shares during the period. FedEx accounts for 10.8% of Matthew 25 Management Corp’s holdings, making the stock its 2nd largest position. Matthew 25 Management Corp’s holdings in FedEx were worth $31,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in FedEx during the first quarter worth $1,667,000. Allegheny Financial Group LTD acquired a new stake in shares of FedEx in the first quarter valued at $203,000. Hilltop National Bank purchased a new stake in shares of FedEx in the 1st quarter valued at $476,000. Finally, Csenge Advisory Group lifted its stake in FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX traded down $2.27 during mid-day trading on Friday, hitting $283.04. 1,117,464 shares of the company’s stock traded hands, compared to its average volume of 1,787,930. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $69.65 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. The firm’s 50 day simple moving average is $294.25 and its 200 day simple moving average is $271.87. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.94 EPS. Sell-side analysts expect that FedEx Co. will post 20.87 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. Wells Fargo & Company lifted their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Robert W. Baird boosted their target price on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Bank of America increased their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.96.

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.