Pinnbrook Capital Management LP Invests $4.01 Million in FedEx Co. (NYSE:FDX)

Pinnbrook Capital Management LP bought a new stake in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,246 shares of the shipping service provider's stock, valued at approximately $4,008,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. International Assets Investment Management LLC grew its position in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock valued at $2,147,540,000 after acquiring an additional 647,926 shares during the period. Franklin Resources Inc. increased its position in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. KBC Group NV raised its holdings in FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock valued at $96,043,000 after buying an additional 226,608 shares during the period. World Investment Advisors LLC lifted its position in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider's stock valued at $52,667,000 after buying an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in FedEx during the fourth quarter worth approximately $49,445,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was 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 in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm'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 transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FDX. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. TD Cowen increased their target price on FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Raymond James raised their target price on FedEx from $305.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, December 20th. StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Finally, BMO Capital Markets lifted their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $321.87.

FedEx Stock Performance

NYSE FDX traded down $14.49 during trading hours on Friday, hitting $253.97. The company had a trading volume of 4,329,771 shares, compared to its average volume of 1,697,695. 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 firm has a market cap of $61.17 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. The business has a fifty day simple moving average of $270.75 and a 200-day simple moving average of $278.18.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the firm posted $3.99 EPS. FedEx's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio (DPR) 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.