Cambridge Financial Group Inc. Invests $7.40 Million in FedEx Co. (NYSE:FDX)

Cambridge Financial Group Inc. acquired a new position in FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,305 shares of the shipping service provider's stock, valued at approximately $7,400,000. FedEx accounts for about 3.1% of Cambridge Financial Group Inc.'s portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Bank bought a new position in FedEx in the third quarter worth approximately $615,000. Quest Partners LLC bought a new position in shares of FedEx in the 3rd quarter worth $123,000. Townsquare Capital LLC lifted its stake in shares of FedEx by 19.5% during the 3rd quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider's stock worth $483,000 after purchasing an additional 288 shares during the last quarter. Bridgewater Associates LP boosted its position in FedEx by 38.8% during the third quarter. Bridgewater Associates LP now owns 25,022 shares of the shipping service provider's stock valued at $6,848,000 after purchasing an additional 6,994 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in FedEx by 3.8% in the third quarter. Glenmede Trust Co. NA now owns 56,847 shares of the shipping service provider's stock valued at $15,558,000 after purchasing an additional 2,064 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related 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 completion of 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 position. 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 the stock in a transaction 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 transaction, 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. Over the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by corporate insiders.

Remove Ads

FedEx Stock Performance

FedEx stock traded up $2.31 during mid-day trading on Wednesday, hitting $244.29. The company had a trading volume of 387,950 shares, compared to its average volume of 1,734,817. The company has a market capitalization of $58.53 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The company's fifty day moving average is $255.30 and its 200-day moving average is $270.28. 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 (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same period last year, the company posted $3.86 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. FedEx's payout ratio is 34.63%.

Analysts Set New Price Targets

FDX has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and lowered their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Barclays reduced their price target on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, Raymond James reduced their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $302.71.

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.