CWA Asset Management Group LLC Purchases 2,515 Shares of FedEx Corporation (NYSE:FDX)

CWA Asset Management Group LLC lifted its stake in FedEx Corporation (NYSE:FDX - Free Report) by 38.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,078 shares of the shipping service provider's stock after acquiring an additional 2,515 shares during the quarter. CWA Asset Management Group LLC's holdings in FedEx were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of FedEx in the first quarter worth $147,000. Farther Finance Advisors LLC increased its stake in shares of FedEx by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after acquiring an additional 481 shares during the last quarter. Allianz SE acquired a new position in shares of FedEx in the fourth quarter worth $18,342,000. Parvin Asset Management LLC acquired a new position in shares of FedEx in the fourth quarter worth $281,000. Finally, Landscape Capital Management L.L.C. increased its stake in shares of FedEx by 87.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock worth $3,734,000 after acquiring an additional 6,180 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Wells Fargo & Company cut their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and lowered their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Finally, Stephens reissued an "overweight" rating and issued a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average price target of $292.54.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.87% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of FedEx stock traded up $2.48 during midday trading on Friday, hitting $225.78. The company had a trading volume of 2,237,153 shares, compared to its average volume of 1,854,336. The business's 50 day simple moving average is $218.30 and its two-hundred day simple moving average is $244.56. The stock has a market cap of $54.10 billion, a PE ratio of 14.16, a P/E/G ratio of 1.08 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.86 earnings per share. As a group, equities analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a $1.45 dividend. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, June 23rd. FedEx's dividend payout ratio (DPR) is 34.63%.

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.