Cambridge Financial Group Inc. Lowers Holdings in FedEx Co. (NYSE:FDX)

Cambridge Financial Group Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,695 shares of the shipping service provider’s stock after selling 1,000 shares during the quarter. FedEx comprises about 2.9% of Cambridge Financial Group Inc.’s portfolio, making the stock its 24th biggest position. Cambridge Financial Group Inc.’s holdings in FedEx were worth $5,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FDX. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in FedEx in the 4th quarter worth approximately $30,000. Tennessee Valley Asset Management Partners acquired a new position in FedEx during the 4th quarter valued at approximately $31,000. Planned Solutions Inc. purchased a new position in shares of FedEx in the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. lifted its stake in shares of FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock traded down $1.38 during midday trading on Friday, reaching $260.65. The stock had a trading volume of 1,085,243 shares, compared to its average volume of 1,311,143. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a market cap of $64.14 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. The company’s fifty day simple moving average is $264.27 and its 200 day simple moving average is $255.03. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business posted $3.41 earnings per share. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on FDX. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley increased their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $301.33.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Susan C. Schwab sold 6,145 shares of FedEx stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last three months. 8.73% of the stock is owned by corporate insiders.

FedEx 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.