Cardinal Capital Management Buys 461 Shares of FedEx Co. (NYSE:FDX)

Cardinal Capital Management lifted its stake in FedEx Co. (NYSE:FDX) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,934 shares of the shipping service provider’s stock after acquiring an additional 461 shares during the period. Cardinal Capital Management’s holdings in FedEx were worth $4,151,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares in the last quarter. Principal Securities Inc. raised its position in shares of FedEx by 9.3% in the fourth quarter. Principal Securities Inc. now owns 7,552 shares of the shipping service provider’s stock worth $2,125,000 after buying an additional 643 shares in the last quarter. Allworth Financial LP raised its position in shares of FedEx by 69.4% in the fourth quarter. Allworth Financial LP now owns 9,383 shares of the shipping service provider’s stock worth $2,537,000 after buying an additional 3,844 shares in the last quarter. Csenge Advisory Group raised its position in shares of FedEx by 8.4% in the fourth quarter. Csenge Advisory Group now owns 2,452 shares of the shipping service provider’s stock worth $690,000 after buying an additional 189 shares in the last quarter. Finally, Valmark Advisers Inc. raised its position in shares of FedEx by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 2,236 shares of the shipping service provider’s stock worth $629,000 after buying an additional 48 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Up 1.0%

NYSE FDX opened at $226.52 on Tuesday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. 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 stock has a 50-day moving average of $217.40 and a 200-day moving average of $246.05. The firm has a market cap of $54.27 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.86 EPS. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.56%. FedEx’s dividend payout ratio is presently 36.39%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Barclays lowered their price objective on FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 3rd. Stifel Nicolaus lowered their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Bank of America dropped their price target on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.54.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by corporate insiders.

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.