Pointe Capital Management LLC Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Pointe Capital Management LLC boosted its stake in shares of FedEx Co. (NYSE:FDX) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,936 shares of the shipping service provider’s stock after buying an additional 292 shares during the quarter. Pointe Capital Management LLC’s holdings in FedEx were worth $545,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bryn Mawr Capital Management LLC increased its holdings in FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. grew its stake 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 valued at $1,042,050,000 after buying an additional 314,380 shares in the last quarter. KBC Group NV raised its holdings in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares during the period. World Investment Advisors LLC lifted its stake in FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new position in FedEx during the 4th quarter valued at about $49,445,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE:FDX opened at $256.31 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $239.07 and a one year high of $313.84. The company has a 50-day simple moving average of $269.72 and a 200-day simple moving average of $277.80. The stock has a market capitalization of $61.73 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the firm earned $3.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.15%. FedEx’s payout ratio is currently 35.18%.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group upped their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

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.