Cardinal Capital Management Raises Holdings in FedEx Co. (NYSE:FDX)

Cardinal Capital Management raised its holdings in shares of FedEx Co. (NYSE:FDX) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,934 shares of the shipping service provider’s stock after purchasing an additional 461 shares during the period. Cardinal Capital Management’s holdings in FedEx were worth $4,151,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in FedEx by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the last quarter. Dodge & Cox boosted its stake in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC boosted its stake in FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after purchasing an additional 127,044 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

FDX opened at $226.52 on Tuesday. The firm has a market cap of $54.27 billion, a P/E ratio of 14.44, a PEG ratio of 1.11 and a beta of 1.35. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a 50 day simple moving average of $217.40 and a two-hundred day simple moving average of $246.05. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.86 earnings per share. Equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, June 23rd. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is 36.39%.

Wall Street Analyst Weigh In

Several analysts recently commented on FDX shares. Wall Street Zen lowered FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Barclays dropped their target price on FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 3rd. UBS Group reduced their price target on shares of FedEx from $331.00 to $311.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Finally, TD Cowen cut their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.54.

FedEx Company 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.