First Nebraska Trust Co Makes New Investment in FedEx Corporation $FDX

Key Points

• First Nebraska Trust Co. initiated a FedEx position in the third quarter, buying 29,088 shares valued at about $8.3 million. Institutional investors collectively own 84.47% of the company’s stock.
• FedEx beat quarterly expectations, reporting $3.74 in adjusted earnings per share versus $3.34 expected, while revenue rose 12.3% year over year to $22.93 billion.
• Analysts give FedEx a consensus “Moderate Buy” rating and an average price target of $359.16; the company’s annualized dividend is $4.88 per share, a yield of about 1.5%.

First Nebraska Trust Co bought a new position in FedEx Corporation (NYSE:FDX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,088 shares of the shipping service provider's stock, valued at approximately $8,292,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of FedEx during the second quarter valued at $6,508,103,000. Primecap Management Co. CA bought a new position in shares of FedEx in the second quarter worth about $2,554,138,000. Bank of America Corp DE purchased a new position in FedEx in the 2nd quarter worth about $579,171,000. Bank of New York Mellon Corp purchased a new position in FedEx in the 2nd quarter worth about $466,943,000. Finally, Legal & General Group Plc purchased a new position in FedEx in the 2nd quarter worth about $448,121,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FedEx stock opened at $318.03 on Wednesday. The firm has a market cap of $74.48 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. FedEx Corporation has a 12 month low of $200.20 and a 12 month high of $345.36. The stock's fifty day moving average price is $303.85 and its 200-day moving average price is $337.21.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The firm had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. During the same period in the previous year, the company posted $3.83 earnings per share. The firm's quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts expect that FedEx Corporation will post 18.29 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is 30.01%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. Stephens upgraded shares of FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. Raymond James Financial set a $162.00 target price on shares of FedEx in a research note on Tuesday. Evercore raised their target price on shares of FedEx from $350.00 to $351.00 in a research report on Monday, September 28th. Wall Street Zen raised shares of FedEx to a "hold" rating in a research note on Saturday, August 8th. Finally, Citizens Jmp initiated coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus price target of $359.16.

Insider Transactions at FedEx

In other news, EVP Gina Adams sold 3,014 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president owned 9,656 shares in the company, valued at approximately $3,061,531.36. The trade was a 23.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy Brightman sold 26,611 shares of the company's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the sale, the executive vice president directly owned 12,245 shares of the company's stock, valued at $3,877,746.60. The trade was a 68.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.65% of the company's stock.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company's services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.

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