FedEx Co. (NYSE:FDX) Stock Position Increased by Matthew 25 Management Corp

Matthew 25 Management Corp increased its position in FedEx Co. (NYSE:FDX) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,500 shares of the shipping service provider’s stock after acquiring an additional 2,000 shares during the period. FedEx comprises about 10.8% of Matthew 25 Management Corp’s investment portfolio, making the stock its 2nd biggest holding. Matthew 25 Management Corp’s holdings in FedEx were worth $31,033,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter worth $25,000. Private Wealth Management Group LLC purchased a new position in shares of FedEx in the fourth quarter valued at about $28,000. Sachetta LLC bought a new stake in FedEx during the 4th quarter valued at approximately $32,000. Finally, Northwest Financial Advisors purchased a new stake in FedEx during the 4th quarter valued at approximately $33,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Company insiders own 8.73% of the company’s stock.

FedEx Stock Down 0.8 %

NYSE:FDX traded down $2.27 during mid-day trading on Friday, hitting $283.04. 1,117,464 shares of the company’s stock traded hands, compared to its average volume of 1,787,930. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market capitalization of $69.65 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 1.17. The company has a fifty day moving average of $294.25 and a 200 day moving average of $271.87. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the business posted $4.94 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post 20.87 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is 32.04%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDX. Morgan Stanley raised their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. TD Cowen started coverage on FedEx in a report on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. Evercore ISI cut their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $313.96.

FedEx 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.