Keene & Associates Inc. Purchases 416 Shares of FedEx Co. (NYSE:FDX)

Keene & Associates Inc. raised its position in FedEx Co. (NYSE:FDX) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,698 shares of the shipping service provider’s stock after buying an additional 416 shares during the quarter. FedEx comprises about 3.3% of Keene & Associates Inc.’s holdings, making the stock its 6th largest position. Keene & Associates Inc.’s holdings in FedEx were worth $4,135,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FDX. Exchange Traded Concepts LLC acquired a new position in FedEx in the 3rd quarter valued at $97,000. Blue Trust Inc. boosted its position in shares of FedEx by 112.0% during the 3rd quarter. Blue Trust Inc. now owns 1,802 shares of the shipping service provider’s stock worth $540,000 after purchasing an additional 952 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of FedEx by 2.1% during the 3rd quarter. OLD National Bancorp IN now owns 3,930 shares of the shipping service provider’s stock worth $1,076,000 after purchasing an additional 80 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of FedEx during the 3rd quarter worth $336,000. Finally, Venture Visionary Partners LLC boosted its position in shares of FedEx by 23.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 4,713 shares of the shipping service provider’s stock worth $1,290,000 after purchasing an additional 884 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on FDX shares. Wells Fargo & Company boosted their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. BMO Capital Markets boosted their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Barclays boosted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and decreased their target price 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 given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $267.35 on Wednesday. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average is $271.93 and its two-hundred day moving average is $278.53. FedEx Co. has a 12-month low of $235.32 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating 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 prior year, the company posted $3.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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 paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

FedEx 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.