Caprock Group LLC Boosts Stake in FedEx Corporation $FDX

Key Points

• Caprock Group LLC increased its FedEx holding by 18.4%, adding 2,792 shares to hold 17,985 shares worth about $5.22 million per its latest 13F filing.
• FedEx beat quarterly expectations with $5.25 EPS vs. $4.12 expected and $24 billion in revenue, and analysts have lifted price targets — the consensus rating is "Moderate Buy" with an average target near $398.
• Insiders have been net sellers recently (48,104 shares worth roughly $17.6 million in the last 90 days) while institutional investors own about 84.47% of the stock.

Caprock Group LLC lifted its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,985 shares of the shipping service provider's stock after purchasing an additional 2,792 shares during the quarter. Caprock Group LLC's holdings in FedEx were worth $5,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FDX. Brighton Jones LLC raised its stake in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC increased its position in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in FedEx during the second quarter valued at $586,000. Quantbot Technologies LP purchased a new stake in FedEx during the second quarter valued at $186,000. Finally, Jump Financial LLC purchased a new stake in FedEx during the second quarter valued at $456,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX opened at $386.18 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $369.13 and a two-hundred day simple moving average of $313.09. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.73 and a beta of 1.28. FedEx Corporation has a 52 week low of $204.33 and a 52 week high of $399.67.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.51 earnings per share. On average, analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were paid a $1.45 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio is 30.87%.

Insiders Place Their Bets

In other news, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company's stock, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stephens reiterated an "overweight" rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Wall Street Zen cut FedEx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 12th. Sanford C. Bernstein upped their price objective on FedEx from $457.00 to $470.00 and gave the company an "outperform" rating in a research report on Thursday, April 9th. Bank of America upped their price objective on FedEx from $431.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Finally, BMO Capital Markets upped their price objective on FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $398.04.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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