Hodges Capital Management Inc. Buys 20,013 Shares of FedEx Corporation $FDX

Hodges Capital Management Inc. boosted its position in FedEx Corporation (NYSE:FDX) by 183.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,937 shares of the shipping service provider’s stock after buying 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.

Other institutional investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its holdings in FedEx by 68.2% in the first quarter. Kathmere Capital Management LLC now owns 2,837 shares of the shipping service provider’s stock worth $1,010,000 after acquiring an additional 1,150 shares in the last quarter. Abel Hall LLC increased its holdings in shares of FedEx by 16.8% during the first quarter. Abel Hall LLC now owns 918 shares of the shipping service provider’s stock valued at $327,000 after acquiring an additional 132 shares in the last quarter. DGS Capital Management LLC raised its position in shares of FedEx by 57.7% during the first quarter. DGS Capital Management LLC now owns 3,019 shares of the shipping service provider’s stock worth $1,075,000 after purchasing an additional 1,105 shares during the period. Ascentis Independent Advisors raised its position in shares of FedEx by 55.3% during the first quarter. Ascentis Independent Advisors now owns 2,181 shares of the shipping service provider’s stock worth $777,000 after purchasing an additional 777 shares during the period. Finally, GM Advisory Group LLC lifted its holdings in shares of FedEx by 10.2% in the 1st quarter. GM Advisory Group LLC now owns 1,851 shares of the shipping service provider’s stock worth $659,000 after purchasing an additional 172 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FedEx stock opened at $313.21 on Monday. The business’s fifty day simple moving average is $356.40 and its 200 day simple moving average is $348.06. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The firm has a market capitalization of $74.73 billion, a P/E ratio of 16.92 and a beta of 1.29.

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

FedEx Cuts Dividend

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

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Walsh sold 5,042 shares of the firm’s 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 sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,146 shares of company stock valued at $19,235,438 in the last three months. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FDX. Truist Financial decreased their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Argus raised their price objective on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 6th. UBS Group reduced their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Wolfe Research decreased their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.60.

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.