FedEx Co. (NYSE:FDX) Stock Position Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 137.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,965 shares of the shipping service provider's stock after acquiring an additional 132,036 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of FedEx worth $64,133,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. IVC Wealth Advisors LLC raised its position in shares of FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider's stock valued at $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider's stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC lifted its position in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider's stock worth $279,000 after buying an additional 39 shares during the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider's stock valued at $1,088,000 after buying an additional 40 shares during the period. Finally, Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after buying an additional 40 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business's stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Loop Capital raised shares of FedEx from a "hold" rating to a "buy" rating and raised their target price for the stock from $288.00 to $365.00 in a report on Friday, December 20th. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Stifel Nicolaus upped their price objective on FedEx from $321.00 to $368.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Robert W. Baird dropped their target price on FedEx from $340.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Finally, Barclays boosted their price target on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average target price of $325.61.

FedEx Trading Down 0.4 %

FedEx stock opened at $276.62 on Thursday. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm's 50 day moving average price is $283.89 and its two-hundred day moving average price is $284.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $22.14 billion. During the same period in the previous year, the firm posted $3.99 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx's payout ratio is 35.18%.

FedEx Company 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.