PCG Asset Management LLC Takes $410,000 Position in FedEx Co. (NYSE:FDX)

PCG Asset Management LLC bought a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,457 shares of the shipping service provider’s stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. US Bancorp DE increased its holdings in FedEx by 0.8% during the 3rd quarter. US Bancorp DE now owns 115,634 shares of the shipping service provider’s stock worth $31,647,000 after purchasing an additional 910 shares during the period. Hills Bank & Trust Co lifted its position in shares of FedEx by 121.2% during the 3rd quarter. Hills Bank & Trust Co now owns 1,398 shares of the shipping service provider’s stock worth $383,000 after buying an additional 766 shares during the last quarter. Weatherly Asset Management L. P. boosted its holdings in shares of FedEx by 43.2% in the 3rd quarter. Weatherly Asset Management L. P. now owns 11,111 shares of the shipping service provider’s stock valued at $3,055,000 after buying an additional 3,353 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of FedEx by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 298 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in FedEx by 3.2% in the third quarter. Chicago Partners Investment Group LLC now owns 1,639 shares of the shipping service provider’s stock valued at $439,000 after acquiring an additional 51 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FDX. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Wells Fargo & Company increased their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and lowered their price target for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. TD Cowen upped their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $263.11 on Friday. The company has a 50-day moving average of $268.78 and a two-hundred day moving average of $277.36. The stock has a market cap of $63.37 billion, a P/E ratio of 16.77, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a 12-month low of $242.92 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 EPS. As a group, research analysts predict 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. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 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.