First National Bank of Omaha Acquires New Position in FedEx Corporation $FDX

Key Points

• First National Bank of Omaha acquired 24,117 FedEx shares worth approximately $7.81 million in the second quarter, while several other institutions also opened new positions. Institutional investors collectively own 84.47% of FedEx stock.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $350.54, despite several firms recently lowering their targets.
• FedEx shares opened at $328.43, near their 52-week high, after the company reported quarterly EPS of $5.88 and revenue of $23.26 billion. The company declared a quarterly dividend of $1.22 per share, equivalent to a 1.5% annual yield.

First National Bank of Omaha acquired a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,117 shares of the shipping service provider's stock, valued at approximately $7,810,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Alpine Woods Capital Investors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $365,000. Meeder Advisory Services Inc. purchased a new stake in FedEx in the 2nd quarter valued at approximately $2,307,000. Meeder Asset Management Inc. acquired a new stake in FedEx during the 2nd quarter valued at $410,000. Tiemann Investment Advisors LLC purchased a new position in FedEx during the second quarter worth $550,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of FedEx in the second quarter worth $1,614,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. BNP Paribas Exane reduced their target price on shares of FedEx from $335.00 to $269.76 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. Jefferies Financial Group started coverage on FedEx in a research note on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price target on the stock. Stifel Nicolaus lowered their price objective on FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Rothschild & Co Redburn dropped their target price on FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Finally, Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $350.54.

FedEx Stock Down 0.9%

Shares of FDX opened at $328.43 on Wednesday. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The company's fifty day moving average is $319.36 and its two-hundred day moving average is $351.63. The firm has a market cap of $77.70 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx's dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

About FedEx

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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