ACR Alpine Capital Research LLC increased its stake in FedEx Co. (NYSE:FDX - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 852,767 shares of the shipping service provider's stock after buying an additional 329,170 shares during the quarter. FedEx comprises approximately 5.2% of ACR Alpine Capital Research LLC's holdings, making the stock its 10th largest holding. ACR Alpine Capital Research LLC owned approximately 0.35% of FedEx worth $239,909,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Farther Finance Advisors LLC raised its position in FedEx by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider's stock worth $457,000 after purchasing an additional 298 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of FedEx by 3.2% in the third quarter. Chicago Partners Investment Group LLC now owns 1,639 shares of the shipping service provider's stock worth $439,000 after buying an additional 51 shares during the period. F M Investments LLC lifted its stake in shares of FedEx by 3.9% during the 3rd quarter. F M Investments LLC now owns 6,527 shares of the shipping service provider's stock worth $1,764,000 after acquiring an additional 247 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in FedEx by 59.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider's stock valued at $218,000 after acquiring an additional 296 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter valued at $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Stock Up 0.7 %
Shares of FedEx stock traded up $1.73 during trading on Wednesday, reaching $249.47. The company's stock had a trading volume of 120,360 shares, compared to its average volume of 1,628,626. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84. The company has a 50-day simple moving average of $268.09 and a two-hundred day simple moving average of $276.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $60.09 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.11 and a beta of 1.18.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the company earned $3.99 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.21%. FedEx's dividend payout ratio is currently 35.18%.
Insiders Place Their Bets
In other news, CEO Richard W. Smith sold 2,576 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on FDX shares. Stifel Nicolaus decreased their target price on FedEx from $368.00 to $364.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Barclays lifted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $319.74.
Read Our Latest Stock Report 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.
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