FedEx Co. (NYSE:FDX) Stake Lifted by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co grew its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,927 shares of the shipping service provider’s stock after purchasing an additional 167 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in FedEx were worth $2,896,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in FedEx by 11.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the last quarter. Capital Group Investment Management PTE. LTD. increased its holdings in shares of FedEx by 29.3% during the 2nd quarter. Capital Group Investment Management PTE. LTD. now owns 5,740 shares of the shipping service provider’s stock valued at $1,423,000 after acquiring an additional 1,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after acquiring an additional 13,642 shares during the last quarter. Vishria Bird Financial Group LLC increased its holdings in shares of FedEx by 21.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock valued at $21,286,000 after acquiring an additional 14,036 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new position in shares of FedEx during the 3rd quarter valued at about $1,453,000. 73.61% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FedEx stock traded up $3.58 on Tuesday, reaching $241.89. The company’s stock had a trading volume of 1,440,993 shares, compared to its average volume of 2,268,477. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market cap of $60.45 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.14 and a beta of 1.20. The business’s fifty day moving average price is $254.78 and its 200 day moving average price is $255.32. FedEx Co. has a twelve month low of $190.83 and a twelve month high of $285.53.

FedEx (NYSE:FDXGet Free Report) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). The firm had revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.36 billion. FedEx had a return on equity of 16.47% and a net margin of 4.87%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.18 EPS. Equities analysts expect that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, December 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.08%. FedEx’s payout ratio is currently 29.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FDX shares. Stifel Nicolaus increased their price objective on FedEx from $282.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. dropped their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. Raymond James dropped their price target on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 20th. Melius raised FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, TD Cowen lifted their price target on FedEx from $290.00 to $293.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $289.93.

Check Out Our Latest Report on FedEx

Insider Transactions at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was bought at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the transaction, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was acquired at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane acquired 200 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was bought at an average price of $253.22 per share, with a total value of $50,644.00. Following the acquisition, the director now directly owns 3,304 shares of the company’s stock, valued at approximately $836,638.88. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by corporate insiders.

FedEx Profile

(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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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