FedEx Co. (NYSE:FDX) Shares Sold by Check Capital Management Inc. CA

Posted by Defense World Staff on Sep 13th, 2023

Check Capital Management Inc. CA trimmed its position in shares of FedEx Co. (NYSE:FDX – Free Report) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,186 shares of the shipping service provider’s stock after selling 726 shares during the period. FedEx makes up 2.1% of Check Capital Management Inc. CA’s portfolio, making the stock its 8th biggest position. Check Capital Management Inc. CA owned 0.08% of FedEx worth $46,883,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC acquired a new position in FedEx during the 1st quarter worth $26,000. GW&K Investment Management LLC acquired a new position in FedEx during the 1st quarter worth $27,000. Horan Securities Inc. grew its holdings in FedEx by 85.7% during the 1st quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 60 shares in the last quarter. Sound Income Strategies LLC grew its holdings in FedEx by 1,957.1% during the 1st quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 137 shares in the last quarter. Finally, Core Alternative Capital grew its holdings in FedEx by 105.6% during the 1st quarter. Core Alternative Capital now owns 146 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, VP Jennifer L. Johnson sold 10,801 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 19,270 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now owns 58,875 shares in the company, valued at approximately $14,483,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer L. Johnson sold 10,801 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $251.47 on Wednesday. The firm’s 50 day moving average is $260.68 and its 200-day moving average is $237.25. The stock has a market capitalization of $63.25 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.23 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.33. FedEx Co. has a 12-month low of $141.92 and a 12-month high of $270.95.

FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.09. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.55 billion. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.87 EPS. Equities research analysts anticipate that FedEx Co. will post 17.33 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 annualized dividend and a dividend yield of 2.00%. FedEx’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent analyst reports. Atlantic Securities initiated coverage on shares of FedEx in a report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 price objective for the company. Loop Capital reduced their price target on shares of FedEx from $263.00 to $255.00 in a research report on Thursday, June 22nd. Argus raised their price target on shares of FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. Bank of America reduced their price target on shares of FedEx from $295.00 to $290.00 in a research report on Wednesday, June 21st. Finally, UBS Group raised their price target on shares of FedEx from $272.00 to $312.00 in a research report on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $249.50.

Check Out Our Latest Stock Analysis on FDX

About FedEx

(Free Report)

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.