Applied Finance Capital Management LLC Buys New Position in FedEx Co. (NYSE:FDX)

Applied Finance Capital Management LLC purchased a new stake in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 3,437 shares of the shipping service provider's stock, valued at approximately $967,000.

Other large investors also recently made changes to their positions in the company. United Bank purchased a new position in shares of FedEx during the 3rd quarter worth about $615,000. Janus Henderson Group PLC increased its position in FedEx by 1.9% during the third quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider's stock worth $7,280,000 after purchasing an additional 500 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of FedEx in the 3rd quarter valued at $465,000. Quantinno Capital Management LP grew its stake in shares of FedEx by 28.7% during the 3rd quarter. Quantinno Capital Management LP now owns 14,567 shares of the shipping service provider's stock valued at $3,987,000 after buying an additional 3,246 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in shares of FedEx by 153.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 9,721 shares of the shipping service provider's stock worth $2,660,000 after buying an additional 5,892 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FedEx stock traded up $1.06 during mid-day trading on Friday, reaching $207.46. The company's stock had a trading volume of 2,196,102 shares, compared to its average volume of 1,775,964. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The business has a 50 day moving average price of $244.07 and a 200-day moving average price of $265.74. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24.

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FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the company earned $3.86 EPS. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.66%. FedEx's payout ratio is currently 34.63%.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, 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 SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FDX. TD Cowen reduced their target price on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 target price for the company. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and cut their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $300.63.

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.