OFI Invest Asset Management Invests $1.08 Million in FedEx Co. (NYSE:FDX)

OFI Invest Asset Management bought a new position in FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,974 shares of the shipping service provider’s stock, valued at approximately $1,080,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Kentucky Trust Co bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research reports. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and lowered their target price for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Finally, Stephens lowered their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Stock Performance

NYSE FDX opened at $253.80 on Monday. The company has a 50-day simple moving average of $266.55 and a two-hundred day simple moving average of $276.07. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $242.92 and a 12-month high of $313.84. The firm has a market cap of $61.13 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s payout ratio is 35.18%.

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.