Victory Capital Management Inc. Boosts Stake in FedEx Co. (NYSE:FDX)

Victory Capital Management Inc. lifted its position in shares of FedEx Co. (NYSE:FDXGet Rating) by 17.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,997 shares of the shipping service provider’s stock after acquiring an additional 15,611 shares during the quarter. Victory Capital Management Inc.’s holdings in FedEx were worth $20,470,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FDX. CWM LLC acquired a new position in shares of FedEx during the 4th quarter worth about $1,210,000. AGF Investments Inc. raised its holdings in FedEx by 49.9% in the 4th quarter. AGF Investments Inc. now owns 33,902 shares of the shipping service provider’s stock valued at $8,768,000 after acquiring an additional 11,284 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $26,000. Fifth Third Bancorp raised its holdings in FedEx by 17.3% in the 4th quarter. Fifth Third Bancorp now owns 224,984 shares of the shipping service provider’s stock valued at $58,190,000 after acquiring an additional 33,136 shares during the last quarter. Finally, Waldron Private Wealth LLC raised its holdings in FedEx by 186.3% in the 4th quarter. Waldron Private Wealth LLC now owns 6,292 shares of the shipping service provider’s stock valued at $1,627,000 after acquiring an additional 4,094 shares during the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, EVP Robert B. Carter sold 12,310 shares of FedEx stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the sale, the executive vice president now owns 54,916 shares of the company’s stock, valued at $12,664,178.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael C. Lenz sold 7,335 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $230.72, for a total transaction of $1,692,331.20. Following the completion of the transaction, the executive vice president now owns 18,251 shares of the company’s stock, valued at $4,210,870.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $230.61, for a total transaction of $2,838,809.10. Following the sale, the executive vice president now owns 54,916 shares of the company’s stock, valued at $12,664,178.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,955 shares of company stock worth $7,296,828. 8.16% of the stock is owned by company insiders.

FedEx Stock Performance

NYSE:FDX opened at $236.10 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. FedEx Co. has a fifty-two week low of $192.82 and a fifty-two week high of $282.88. The stock has a market capitalization of $61.35 billion, a P/E ratio of 16.51, a PEG ratio of 0.84 and a beta of 1.19. The company has a 50 day moving average price of $226.01 and a 200 day moving average price of $222.03.

FedEx (NYSE:FDXGet Rating) last announced its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). FedEx had a net margin of 4.09% and a return on equity of 22.29%. The firm had revenue of $24.39 billion during the quarter, compared to analyst estimates of $24.28 billion. During the same quarter in the previous year, the business posted $5.01 earnings per share. Equities research analysts forecast that FedEx Co. will post 23.16 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Monday, June 27th were paid a $1.15 dividend. The ex-dividend date was Friday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 dividend on an annualized basis and a yield of 1.95%. FedEx’s payout ratio is currently 32.17%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $320.00 price objective on shares of FedEx in a report on Thursday, June 30th. Loop Capital increased their price objective on shares of FedEx from $328.00 to $339.00 and gave the company a “buy” rating in a report on Monday, June 27th. JPMorgan Chase & Co. set a $284.00 price target on shares of FedEx in a research note on Thursday, June 30th. BMO Capital Markets increased their price target on shares of FedEx from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Thursday, June 30th. Finally, Stephens increased their price target on shares of FedEx from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, June 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $297.50.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

Further Reading

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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