FedEx Co. (NYSE:FDX) Holdings Trimmed by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,950 shares of the shipping service provider’s stock after selling 3,172 shares during the period. Hodges Capital Management Inc.’s holdings in FedEx were worth $3,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Crossmark Global Holdings Inc. raised its stake in shares of FedEx by 20.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of FedEx in the first quarter worth $1,667,000. Allegheny Financial Group LTD bought a new stake in shares of FedEx during the 1st quarter worth $203,000. Hilltop National Bank bought a new position in FedEx in the 1st quarter worth $476,000. Finally, Csenge Advisory Group boosted its holdings in FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

Shares of NYSE FDX traded up $0.31 during mid-day trading on Wednesday, hitting $293.79. The company had a trading volume of 35,763 shares, compared to its average volume of 1,790,620. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a market capitalization of $71.77 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. 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 firm has a 50-day simple moving average of $294.85 and a two-hundred day simple moving average of $271.30.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.88%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last quarter. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FDX. Morgan Stanley increased their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group cut their target price on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Robert W. Baird raised their price objective on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

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.