AMI Investment Management Inc. Grows Holdings in FedEx Co. (NYSE:FDX)

AMI Investment Management Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,894 shares of the shipping service provider’s stock after purchasing an additional 404 shares during the period. FedEx comprises approximately 1.7% of AMI Investment Management Inc.’s holdings, making the stock its 18th largest holding. AMI Investment Management Inc.’s holdings in FedEx were worth $4,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. increased its stake in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the period. Western Wealth Management LLC increased its stake in shares of FedEx by 10.0% during the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after buying an additional 333 shares during the period. Trust Point Inc. bought a new stake in FedEx during the fourth quarter valued at about $282,000. Planned Solutions Inc. bought a new stake in FedEx during the fourth quarter valued at about $32,000. Finally, EFG Asset Management North America Corp. boosted its position in FedEx by 173.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock valued at $1,928,000 after purchasing an additional 4,831 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX traded up $4.37 during trading on Friday, hitting $299.84. The stock had a trading volume of 4,278,920 shares, compared to its average volume of 2,248,979. The stock has a 50-day simple moving average of $258.10 and a two-hundred day simple moving average of $256.24. 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 stock has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $302.41.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $4.94 earnings per share. On average, equities research analysts expect that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

FedEx announced that its Board of Directors has initiated a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Argus raised their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $296.00 to $359.00 in a research report on Wednesday. Jefferies Financial Group raised their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.00.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 119,810 shares of company stock worth $32,924,413 over the last three months. 8.73% of the stock is currently owned by corporate insiders.

FedEx Company Profile

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.