Hodges Capital Management Inc. Buys 56 Shares of FedEx Co. (NYSE:FDX)

Hodges Capital Management Inc. increased its holdings in FedEx Co. (NYSE:FDX) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 11,321 shares of the shipping service provider’s stock after acquiring an additional 56 shares during the quarter. Hodges Capital Management Inc.’s holdings in FedEx were worth $3,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FDX. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter valued at about $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter worth about $28,000. Finally, R Squared Ltd acquired a new position in FedEx during the fourth quarter valued at $31,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDX. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company lifted their price objective on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Raymond James lifted their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Bank of America increased their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Transactions at FedEx

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

FedEx Stock Performance

FDX stock opened at $247.34 on Tuesday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The business’s fifty day moving average is $279.62 and its 200-day moving average is $282.02. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $59.57 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.23%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

About FedEx

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.