Markel Group Inc. Raises Stake in FedEx Corporation (NYSE:FDX)

Markel Group Inc. grew its stake in FedEx Corporation (NYSE:FDX - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,000 shares of the shipping service provider's stock after acquiring an additional 6,500 shares during the quarter. Markel Group Inc. owned about 0.09% of FedEx worth $51,925,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of FedEx during the 4th quarter worth approximately $807,352,000. Dodge & Cox grew its position in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the period. GAMMA Investing LLC increased its stake in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after acquiring an additional 542,605 shares during the last quarter. Capital Research Global Investors purchased a new stake in FedEx in the fourth quarter valued at $145,733,000. Finally, Franklin Resources Inc. raised its position in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $228.54 on Friday. FedEx Corporation has a one year low of $194.30 and a one year high of $313.16. The stock has a market capitalization of $54.76 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.20 and a beta of 1.35. The company has a 50-day simple moving average of $226.46 and a 200-day simple moving average of $238.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

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

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.54%. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Insider Buying and Selling

In other news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 over the last three months. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and set a $260.00 price target (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Barclays restated an "overweight" rating and issued a $320.00 price objective (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. UBS Group cut 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. Cowen restated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company upped their price objective on FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $283.25.

About FedEx

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.

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