Wilsey Asset Management Inc. Buys 2,734 Shares of FedEx Co. (NYSE:FDX)

Wilsey Asset Management Inc. grew its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 110,847 shares of the shipping service provider's stock after purchasing an additional 2,734 shares during the period. FedEx comprises approximately 5.4% of Wilsey Asset Management Inc.'s portfolio, making the stock its 13th biggest position. Wilsey Asset Management Inc.'s holdings in FedEx were worth $27,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx in the fourth quarter valued at approximately $234,028,000. Dodge & Cox lifted its stake in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. GAMMA Investing LLC lifted its stake in FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after purchasing an additional 542,605 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in FedEx in the fourth quarter valued at approximately $145,733,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Barclays dropped their target price on FedEx from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 3rd. Citigroup dropped their target price on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Cfra Research upgraded FedEx to a "hold" rating in a research report on Thursday, March 20th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.54.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is currently owned by insiders.

FedEx Trading Down 0.5%

NYSE:FDX opened at $223.95 on Friday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a 50 day simple moving average of $216.82 and a two-hundred day simple moving average of $246.98. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $53.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 EPS. Research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.59%. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx's dividend payout ratio is presently 36.39%.

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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