Meeder Asset Management Inc. Purchases 23,294 Shares of FedEx Co. (NYSE:FDX)

Meeder Asset Management Inc. increased its position in FedEx Co. (NYSE:FDX) by 61,300.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,332 shares of the shipping service provider’s stock after buying an additional 23,294 shares during the quarter. Meeder Asset Management Inc.’s holdings in FedEx were worth $6,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. Norges Bank purchased a new stake in shares of FedEx in the 4th quarter valued at $807,352,000. Raymond James Financial Inc. bought a new stake in FedEx in the fourth quarter worth $234,028,000. ACR Alpine Capital Research LLC boosted its position in FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after buying an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC grew its stake in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after buying an additional 321,141 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was bought 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 of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by insiders.

FedEx Trading Down 0.9 %

NYSE:FDX opened at $241.75 on Monday. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The company’s 50-day simple moving average is $256.59 and its 200 day simple moving average is $270.89. The firm has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.86 EPS. As a group, analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FDX. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and cut their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.71.

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.