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

Key Points

• First National Bank of Omaha disclosed a new fourth-quarter stake in FedEx, buying 30,646 shares valued at about $8.92 million.
• FedEx reported stronger-than-expected quarterly results, posting $5.25 EPS versus $4.12 expected and revenue of $24 billion, up 8.3% year over year.
• The company declared a quarterly dividend of $1.22 per share, while analysts currently maintain a Moderate Buy consensus with a target price of $371.45.

First National Bank of Omaha acquired a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,646 shares of the shipping service provider's stock, valued at approximately $8,920,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in FedEx in the 3rd quarter valued at $28,000. Ameriflex Group Inc. lifted its holdings in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in FedEx in the 4th quarter valued at $29,000. Tucker Asset Management LLC purchased a new position in FedEx in the 4th quarter valued at $29,000. Finally, ORG Partners LLC lifted its holdings in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock valued at $30,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 0.1%

Shares of FDX opened at $337.65 on Friday. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $342.81. The company has a market capitalization of $80.57 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The stock has a fifty day simple moving average of $371.84 and a two-hundred day simple moving average of $342.64. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

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

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx's dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. Evercore lowered FedEx from an "outperform" rating to a "cautious" rating in a report on Wednesday, May 27th. Sanford C. Bernstein raised their price objective on FedEx from $457.00 to $470.00 and gave the company an "outperform" rating in a report on Thursday, April 9th. The Goldman Sachs Group decreased their price objective on FedEx from $405.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Rothschild & Co Redburn decreased their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus raised their target price on FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $371.45.

Insiders Place Their Bets

In related news, EVP Tracy B. Brightman sold 16,959 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares of the company's stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the firm's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company's stock, valued at $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last 90 days. Company insiders own 0.53% of the company's stock.

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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