Hodges Capital Management Inc. Has $11.02 Million Holdings in FedEx Corporation $FDX

Key Points

• Hodges Capital Management boosted its FedEx stake by 183.2% in the first quarter, ending with 30,937 shares valued at about $11.0 million.
• FedEx recently reported better-than-expected quarterly results, with EPS of $6.31 versus $5.91 expected and revenue of $25.01 billion, up 12.5% year over year.
• The company also announced a quarterly dividend of $1.22 per share, while analysts currently view the stock as a Moderate Buy with an average price target of $349.60.

Hodges Capital Management Inc. raised its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 183.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,937 shares of the shipping service provider's stock after acquiring an additional 20,013 shares during the period. Hodges Capital Management Inc.'s holdings in FedEx were worth $11,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bayban acquired a new stake in FedEx in the first quarter valued at approximately $26,000. EFG International AG acquired a new position in shares of FedEx during the fourth quarter worth $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx during the third quarter worth $28,000. Ameriflex Group Inc. lifted its stake in shares of 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 acquiring an additional 63 shares during the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at $29,000. Institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of NYSE FDX opened at $313.21 on Monday. The company has a market capitalization of $74.73 billion, a PE ratio of 16.92 and a beta of 1.29. 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 Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a fifty day simple moving average of $356.40 and a 200 day simple moving average of $348.06.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $25.01 billion for the quarter, compared to analysts' expectations of $24.04 billion. During the same quarter in the prior year, the firm posted $6.07 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. Wolfe Research lowered their target price on FedEx from $427.00 to $423.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Susquehanna lifted their price target on FedEx from $410.00 to $455.00 and gave the company a "positive" rating in a research note on Friday, March 20th. Wall Street Zen upgraded FedEx from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 6th. Evercore set a $165.00 price objective on FedEx in a research note on Friday, June 26th. Finally, Zacks Research lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $349.60.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm's stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Insiders have sold a total of 53,146 shares of company stock valued at $19,235,438 over the last ninety days. Insiders own 0.53% of the company's stock.

FedEx Company Profile

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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