Ossiam Raises Position in FedEx Co. (NYSE:FDX)

Ossiam increased its stake in FedEx Co. (NYSE:FDX - Free Report) by 1,743.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,142 shares of the shipping service provider's stock after buying an additional 4,863 shares during the quarter. Ossiam's holdings in FedEx were worth $1,447,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in FedEx during the fourth quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in FedEx in the fourth quarter worth about $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.87% of the stock is owned by insiders.

FedEx Stock Down 2.0 %

Shares of FDX stock traded down $4.24 on Friday, reaching $211.45. 1,327,976 shares of the company were exchanged, compared to its average volume of 1,773,137. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24. The company has a 50-day moving average of $234.59 and a 200-day moving average of $262.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.86 EPS. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FDX shares. Barclays lowered their price objective on FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. TD Cowen cut their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Truist Financial decreased their target price on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Finally, Citigroup cut their target price on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Two research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.71.

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.