Horizon Investments LLC Grows Stake in FedEx Co. (NYSE:FDX)

Horizon Investments LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 1.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,106 shares of the shipping service provider’s stock after acquiring an additional 107 shares during the period. Horizon Investments LLC’s holdings in FedEx were worth $1,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Raymond James Financial Inc. bought a new position in FedEx during the fourth quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC lifted its stake in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. Truist Financial started coverage on FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target on the stock. Bank of America boosted their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. UBS Group boosted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $317.48.

FedEx Stock Up 0.1 %

Shares of FDX opened at $245.58 on Wednesday. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84. 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 company has a market capitalization of $59.15 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.11 and a beta of 1.23. The stock’s 50-day moving average price is $261.87 and its 200-day moving average price is $273.48.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the business earned $3.99 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts predict 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. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. FedEx’s payout ratio is 35.18%.

FedEx 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.