Lighthouse Investment Partners LLC Invests $2.28 Million in FedEx Co. (NYSE:FDX)

Lighthouse Investment Partners LLC purchased a new position in shares of FedEx Co. (NYSE:FDXFree Report) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 9,000 shares of the shipping service provider’s stock, valued at approximately $2,277,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDX. Sentry LLC bought a new stake in shares of FedEx during the 4th quarter worth approximately $1,811,748,000. Norges Bank acquired a new stake in FedEx in the fourth quarter valued at approximately $700,291,000. Mizuho Markets Americas LLC acquired a new stake in FedEx in the third quarter valued at approximately $496,611,000. FMR LLC boosted its position in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares in the last quarter. Finally, Capital International Investors boosted its position in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after buying an additional 880,894 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. TD Cowen raised their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Jefferies Financial Group raised their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Evercore ISI raised their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their target price on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Finally, Morgan Stanley raised their price target on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.92.

Check Out Our Latest Stock Analysis on FedEx

Insider Buying and Selling at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $253.70 on Tuesday. FedEx Co. has a twelve month low of $222.01 and a twelve month high of $291.27. The firm has a fifty day simple moving average of $260.83 and a 200 day simple moving average of $256.56. The company has a market capitalization of $62.43 billion, a PE ratio of 14.63, a P/E/G ratio of 0.90 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 17.76 EPS for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 2.18%. FedEx’s payout ratio is 29.07%.

FedEx declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

FedEx Company 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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