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

Davis Capital Management raised its stake in shares of FedEx Co. (NYSE:FDX) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 3,203 shares of the shipping service provider’s stock after acquiring an additional 63 shares during the quarter. Davis Capital Management’s holdings in FedEx were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in FedEx by 35.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 120,156 shares of the shipping service provider’s stock valued at $33,966,000 after acquiring an additional 31,129 shares during the last quarter. Beaumont Financial Advisors LLC raised its stake in shares of FedEx by 106.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 1,813 shares of the shipping service provider’s stock worth $510,000 after buying an additional 933 shares in the last quarter. Howard Capital Management Group LLC raised its stake in shares of FedEx by 1.9% during the 4th quarter. Howard Capital Management Group LLC now owns 98,957 shares of the shipping service provider’s stock worth $27,839,000 after buying an additional 1,810 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of FedEx by 18.2% during the 4th quarter. Atomi Financial Group Inc. now owns 1,400 shares of the shipping service provider’s stock worth $394,000 after buying an additional 216 shares in the last quarter. Finally, Reliant Investment Management LLC raised its stake in shares of FedEx by 8.7% during the 4th quarter. Reliant Investment Management LLC now owns 912 shares of the shipping service provider’s stock worth $257,000 after buying an additional 73 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. UBS Group raised their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Bank of America raised their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Price Performance

Shares of FedEx stock opened at $275.72 on Wednesday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market capitalization of $66.41 billion, a P/E ratio of 17.57, a PEG ratio of 1.14 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average price is $283.19 and its 200 day moving average price is $283.74.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the firm earned $3.99 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

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.