FedEx Corporation (NYSE:FDX) Shares Purchased by Check Capital Management Inc. CA

Check Capital Management Inc. CA lifted its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,622 shares of the shipping service provider's stock after purchasing an additional 13,620 shares during the quarter. FedEx makes up about 1.4% of Check Capital Management Inc. CA's holdings, making the stock its 9th biggest position. Check Capital Management Inc. CA owned approximately 0.08% of FedEx worth $48,908,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FDX. Transce3nd LLC acquired a new position in shares of FedEx during the 4th quarter worth $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx during the 4th quarter worth $28,000. Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx during the 4th quarter worth $32,000. Accredited Wealth Management LLC acquired a new position in shares of FedEx during the 4th quarter worth $35,000. Finally, Abound Financial LLC acquired a new position in shares of FedEx during the 1st quarter worth $38,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FDX. TD Cowen lowered their target price on shares of FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Raymond James Financial reiterated an "outperform" rating and issued a $260.00 target price (down from $275.00) on shares of FedEx in a research note on Wednesday, June 25th. Citigroup raised their target price on shares of FedEx from $259.00 to $278.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. UBS Group lowered their target price on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Finally, Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

FedEx Price Performance

FDX traded down $0.21 during midday trading on Thursday, hitting $228.54. The company had a trading volume of 1,328,336 shares, compared to its average volume of 1,853,844. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The company has a market capitalization of $54.76 billion, a PE ratio of 13.54, a P/E/G ratio of 1.20 and a beta of 1.35. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.16. The firm's 50-day simple moving average is $226.46 and its 200-day simple moving average is $238.85.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the company posted $5.41 EPS. Equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is presently 34.36%.

Insider Transactions at FedEx

In other news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock worth $2,228,816 in the last quarter. 8.87% of the stock is owned by company insiders.

FedEx Company 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.