GAMMA Investing LLC Grows Position in FedEx Co. (NYSE:FDX)

GAMMA Investing LLC lifted its holdings in FedEx Co. (NYSE:FDX) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,981 shares of the shipping service provider’s stock after purchasing an additional 248 shares during the period. GAMMA Investing LLC’s holdings in FedEx were worth $839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Belpointe Asset Management LLC increased its holdings in shares of FedEx by 5.1% in the second quarter. Belpointe Asset Management LLC now owns 2,237 shares of the shipping service provider’s stock valued at $671,000 after purchasing an additional 109 shares during the last quarter. TD Asset Management Inc increased its stake in shares of FedEx by 5.0% in the 2nd quarter. TD Asset Management Inc now owns 90,147 shares of the shipping service provider’s stock worth $27,030,000 after acquiring an additional 4,289 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of FedEx by 5.6% during the 2nd quarter. Private Advisor Group LLC now owns 19,551 shares of the shipping service provider’s stock worth $5,862,000 after acquiring an additional 1,042 shares during the period. Candriam S.C.A. boosted its position in shares of FedEx by 0.3% during the 2nd quarter. Candriam S.C.A. now owns 19,639 shares of the shipping service provider’s stock valued at $5,888,000 after acquiring an additional 63 shares during the last quarter. Finally, Intelligence Driven Advisers LLC purchased a new stake in shares of FedEx in the second quarter valued at about $248,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on FDX shares. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and lifted their target price for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Raymond James increased their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.87% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of FedEx stock opened at $274.41 on Friday. The business has a 50-day simple moving average of $283.87 and a 200-day simple moving average of $283.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a market cap of $66.09 billion, a PE ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business posted $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. 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.