FedEx Co. (NYSE:FDX) Shares Purchased by Keene & Associates Inc.

Keene & Associates Inc. increased its position in shares of FedEx Co. (NYSE:FDX) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,698 shares of the shipping service provider’s stock after purchasing an additional 416 shares during the quarter. FedEx accounts for approximately 3.3% of Keene & Associates Inc.’s investment portfolio, making the stock its 6th largest holding. Keene & Associates Inc.’s holdings in FedEx were worth $4,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. bLong Financial LLC purchased a new position in shares of FedEx in the fourth quarter worth about $391,000. Virtu Financial LLC purchased a new position in shares of FedEx in the third quarter worth about $3,405,000. Wedmont Private Capital lifted its stake in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares in the last quarter. GFS Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth about $26,855,000. Finally, Persium Advisors LLC acquired a new stake in FedEx during the fourth quarter worth about $530,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Bank of America raised their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stephens cut their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.2 %

Shares of FedEx stock opened at $267.35 on Wednesday. FedEx Co. has a 52-week low of $235.32 and a 52-week high of $313.84. The company has a 50 day moving average of $271.93 and a 200 day moving average of $278.53. 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 $64.39 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the previous year, the firm earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. FedEx’s dividend payout ratio is presently 35.18%.

FedEx Company 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.