Cardinal Capital Management Grows Stock Position in FedEx Co. (NYSE:FDX)

Cardinal Capital Management boosted its holdings in shares of FedEx Co. (NYSE:FDXGet Rating) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,729 shares of the shipping service provider’s stock after acquiring an additional 387 shares during the period. Cardinal Capital Management’s holdings in FedEx were worth $3,177,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FDX. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in FedEx during the 4th quarter worth about $26,000. Holloway Wealth Management LLC purchased a new stake in shares of FedEx during the first quarter worth about $29,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of FedEx during the fourth quarter valued at approximately $33,000. Level Financial Advisors Inc. acquired a new stake in FedEx during the fourth quarter worth approximately $34,000. Finally, Byrne Asset Management LLC purchased a new stake in FedEx in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 79.92% of the company’s stock.

Shares of FedEx stock traded down $7.65 during trading hours on Friday, hitting $219.06. 35,864 shares of the company’s stock traded hands, compared to its average volume of 2,604,847. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. FedEx Co. has a twelve month low of $192.82 and a twelve month high of $302.65. The stock has a 50 day simple moving average of $215.44 and a 200-day simple moving average of $226.84. The company has a market cap of $56.78 billion, a PE ratio of 15.85, a PEG ratio of 0.87 and a beta of 1.31.

FedEx (NYSE:FDXGet Rating) last posted its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.07. FedEx had a return on equity of 22.29% and a net margin of 4.09%. During the same quarter in the prior year, the firm posted $5.01 EPS. As a group, equities research analysts predict that FedEx Co. will post 23.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Monday, June 27th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from FedEx’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, June 24th. FedEx’s payout ratio is 32.17%.

Several research firms recently weighed in on FDX. Stephens increased their target price on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, June 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of FedEx from $298.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday. Berenberg Bank lowered shares of FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $333.00 to $275.00 in a research report on Friday. Sanford C. Bernstein set a $333.00 price target on shares of FedEx in a report on Friday, March 11th. Finally, Morgan Stanley cut their target price on FedEx from $250.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 2nd. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.10.

In related news, Director Amy B. Lane purchased 607 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $228.12 per share, with a total value of $138,468.84. Following the acquisition, the director now owns 686 shares in the company, valued at approximately $156,490.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 3,720 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total value of $767,882.40. Following the transaction, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The disclosure for this sale can be found here. Corporate insiders own 8.16% of the company’s stock.

About FedEx (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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