Cambridge Financial Group Inc. Acquires Shares of 26,305 FedEx Co. (NYSE:FDX)

Cambridge Financial Group Inc. bought a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,305 shares of the shipping service provider’s stock, valued at approximately $7,400,000. FedEx comprises 3.1% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors have also made changes to their positions in FDX. Fortitude Family Office LLC increased its position in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter worth approximately $28,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter worth $28,000. Finally, Activest Wealth Management bought a new position in FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FDX shares. Cfra Research raised FedEx to a “hold” rating in a research note on Thursday, March 20th. Truist Financial assumed coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and dropped their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Finally, Wells Fargo & Company dropped their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $302.71.

FedEx Stock Performance

Shares of FDX stock opened at $241.75 on Friday. The company’s fifty day simple moving average is $256.59 and its 200-day simple moving average is $271.07. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The firm has a market cap of $58.22 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx’s payout ratio is 34.63%.

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.