9,000 Shares in FedEx Co. (NYSE:FDX) Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new position in FedEx Co. (NYSE:FDXFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 have also added to or reduced their stakes in FDX. Financial Management Professionals Inc. lifted its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new stake in FedEx in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in FedEx in the fourth quarter worth approximately $30,000. Tennessee Valley Asset Management Partners acquired a new stake in FedEx in the fourth quarter worth approximately $31,000. Finally, Planned Solutions Inc. acquired a new stake in FedEx in the fourth quarter worth approximately $32,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Stifel Nicolaus cut their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, Morgan Stanley increased their price objective on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.92.

Check Out Our Latest Stock Analysis on FDX

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 over the last three months. 8.73% of the stock is currently owned by insiders.

FedEx Trading Up 2.4 %

NYSE FDX opened at $253.70 on Tuesday. FedEx Co. has a 1-year low of $222.01 and a 1-year high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $62.43 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16. The firm’s fifty day simple moving average is $260.83 and its 200-day simple moving average is $256.56.

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, topping analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Increases Dividend

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

FedEx announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

About FedEx

(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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