Sierra Ocean LLC Takes $45,000 Position in FedEx Co. (NYSE:FDX)

Sierra Ocean LLC bought a new stake in FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 158 shares of the shipping service provider’s stock, valued at approximately $45,000.

A number of other institutional investors have also modified their holdings of FDX. Fortitude Family Office LLC increased its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter valued at $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new position in FedEx in the 4th quarter valued at $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. 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. 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, UBS Group boosted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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 $267.83 on Tuesday. The firm has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 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 $272.40 and its two-hundred day moving average is $278.92. FedEx Co. has a 12-month low of $234.45 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%.

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.