Assetmark Inc. Grows Stock Position in FedEx Co. (NYSE:FDX)

Assetmark Inc. grew its position in FedEx Co. (NYSE:FDX - Free Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 302,761 shares of the shipping service provider's stock after buying an additional 2,275 shares during the quarter. Assetmark Inc. owned 0.13% of FedEx worth $85,176,000 at the end of the most recent reporting period.

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

FedEx Price Performance

Shares of NYSE FDX traded up $2.90 during mid-day trading on Wednesday, reaching $250.64. The company's stock had a trading volume of 1,368,019 shares, compared to its average volume of 1,658,758. The stock has a 50-day moving average of $267.66 and a two-hundred day moving average of $276.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $60.37 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.99 EPS. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.20%. FedEx's dividend payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FDX shares. StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. TD Cowen upped 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. Raymond James downgraded shares of FedEx from an "outperform" rating to a "market perform" rating in a research note on Monday, February 3rd. Finally, Loop Capital lowered shares of FedEx from a "buy" rating to a "hold" rating and dropped their price objective for the company from $365.00 to $283.00 in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $319.74.

Insider Activity

In other FedEx news, Director Amy B. Lane acquired 333 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares of the company's stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company's stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company's stock.

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.