Hexagon Capital Partners LLC Acquires 221 Shares of FedEx Co. (NYSE:FDX)

Hexagon Capital Partners LLC lifted its position in FedEx Co. (NYSE:FDX) by 34.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 865 shares of the shipping service provider’s stock after acquiring an additional 221 shares during the period. Hexagon Capital Partners LLC’s holdings in FedEx were worth $219,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. raised its holdings in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $30,000. Tennessee Valley Asset Management Partners acquired a new stake in FedEx during the 4th quarter worth approximately $31,000. Planned Solutions Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $32,000. Finally, Valley National Advisers Inc. raised its holdings in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last quarter. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. The Goldman Sachs Group lifted their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, UBS Group lifted their price objective on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

Shares of FDX stock traded down $1.01 on Wednesday, reaching $260.77. The company had a trading volume of 111,170 shares, compared to its average volume of 1,976,457. The stock has a market capitalization of $64.17 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The business’s 50-day moving average is $263.18 and its 200 day moving average is $254.72.

FedEx (NYSE:FDX) last posted 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. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 earnings per share. Equities research analysts forecast that FedEx Co. will post 17.69 EPS for the current fiscal year.

FedEx announced that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.