Davis Capital Management Boosts Holdings in FedEx Co. (NYSE:FDX)

Davis Capital Management boosted its position in FedEx Co. (NYSE:FDX) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,346 shares of the shipping service provider’s stock after buying an additional 142 shares during the period. Davis Capital Management’s holdings in FedEx were worth $999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its position in FedEx by 20.9% in the 4th 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. Western Wealth Management LLC boosted its position in shares of FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after purchasing an additional 333 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of FedEx during the 4th quarter worth $282,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of FedEx during the 1st quarter worth $1,667,000. Finally, Allegheny Financial Group LTD purchased a new stake in shares of FedEx during the 1st quarter worth $203,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. UBS Group decreased their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Argus boosted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.00.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was 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 in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

FedEx Trading Down 1.9 %

Shares of NYSE FDX traded down $5.53 on Friday, reaching $292.30. 2,252,729 shares of the company traded hands, compared to its average volume of 1,523,840. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a 50 day moving average of $277.79 and a 200 day moving average of $264.32. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $71.93 billion, a PE ratio of 16.96, a P/E/G ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the prior year, the company posted $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

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.