Cinctive Capital Management LP Takes Position in FedEx Co. (NYSE:FDX)

Cinctive Capital Management LP acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,110 shares of the shipping service provider’s stock, valued at approximately $11,847,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new stake in FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new position in shares of FedEx during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $241.86 on Wednesday. The stock has a market cap of $57.95 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The business has a fifty day moving average of $255.30 and a two-hundred day moving average of $270.28. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, March 10th. FedEx’s payout ratio is 34.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FDX shares. BMO Capital Markets dropped their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and decreased their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Wells Fargo & Company cut their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Citigroup decreased their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Cfra Research upgraded FedEx to a “hold” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock valued at $3,312,693 in the last ninety days. Insiders own 8.87% of the company’s stock.

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.