Headlands Technologies LLC Invests $1.26 Million in FedEx Co. (NYSE:FDX)

Headlands Technologies LLC bought a new position in FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,980 shares of the shipping service provider’s stock, valued at approximately $1,260,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Sentry LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $1,811,748,000. Mizuho Markets Americas LLC purchased a new stake in FedEx during the 3rd quarter valued at about $496,611,000. FMR LLC grew its position in FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the last quarter. International Assets Investment Management LLC grew its position in FedEx by 33,890.5% during the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after purchasing an additional 649,680 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in FedEx by 144.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after purchasing an additional 595,628 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock worth $37,758,773 over the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $265.84 on Friday. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The stock has a market cap of $65.42 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. The company’s 50 day moving average is $262.17 and its two-hundred day moving average is $254.49. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business earned $3.41 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx declared that its board has authorized a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

Several analysts recently commented on FDX shares. BMO Capital Markets increased their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. UBS Group raised their price target on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Jefferies Financial Group raised their price target on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

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.