First Dallas Securities Inc. Sells 149 Shares of FedEx Co. (NYSE:FDX)

First Dallas Securities Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,181 shares of the shipping service provider’s stock after selling 149 shares during the quarter. First Dallas Securities Inc.’s holdings in FedEx were worth $1,211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Operose Advisors LLC bought a new stake in FedEx in the third quarter worth about $52,000. O Shaughnessy Asset Management LLC raised its position in FedEx by 70.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after acquiring an additional 5,003 shares during the period. Mather Group LLC. raised its position in FedEx by 92.3% in the third quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock worth $1,031,000 after acquiring an additional 1,868 shares during the period. Tower Research Capital LLC TRC raised its position in FedEx by 25.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,640 shares of the shipping service provider’s stock worth $4,143,000 after acquiring an additional 3,182 shares during the period. Finally, Cape Cod Five Cents Savings Bank raised its position in FedEx by 106.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 2,358 shares of the shipping service provider’s stock worth $625,000 after acquiring an additional 1,214 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders sold 119,810 shares of company stock worth $32,924,413 in the last three months. 8.73% of the stock is owned by insiders.

FedEx Trading Up 1.5 %

Shares of FedEx stock traded up $4.37 during trading on Friday, reaching $299.84. The company’s stock had a trading volume of 4,278,920 shares, compared to its average volume of 2,248,979. The firm’s 50-day moving average is $258.10 and its two-hundred day moving average is $256.48. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $302.41. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.09 and a beta of 1.16.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the business posted $4.94 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 20.51 earnings per share for the current year.

FedEx declared that its board has authorized a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be issued a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is currently 32.04%.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Evercore ISI lowered their price target on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday. Raymond James lowered their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Finally, Argus boosted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

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.