Anomaly Capital Management LP Increases Stock Position in FedEx Co. (NYSE:FDX)

Anomaly Capital Management LP raised its stake in shares of FedEx Co. (NYSE:FDX) by 45.4% in the 2nd quarter, Holdings Channel reports. The firm owned 291,848 shares of the shipping service provider’s stock after acquiring an additional 91,120 shares during the period. FedEx makes up 3.3% of Anomaly Capital Management LP’s investment portfolio, making the stock its 13th largest holding. Anomaly Capital Management LP’s holdings in FedEx were worth $87,508,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its holdings in FedEx by 20.9% during the 4th 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of FedEx in the first quarter valued at $1,667,000. Allegheny Financial Group LTD bought a new stake in FedEx in the first quarter worth $203,000. Hilltop National Bank purchased a new stake in FedEx during the first quarter valued at $476,000. Finally, Csenge Advisory Group lifted its position in FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. decreased their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research note on Friday. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.95.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Down 15.2 %

Shares of NYSE FDX opened at $254.64 on Monday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $292.43 and a two-hundred day simple moving average of $275.22. The firm has a market cap of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. Analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.