FedEx Co. (NYSE:FDX) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in FedEx Co. (NYSE:FDX) by 13.9% during the 1st quarter, Holdings Channel reports. The fund owned 6,540 shares of the shipping service provider’s stock after purchasing an additional 799 shares during the quarter. Park Avenue Securities LLC’s holdings in FedEx were worth $1,594,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Transce3nd LLC purchased a new position in FedEx in the fourth quarter valued at $26,000. Kentucky Trust Co purchased a new position in shares of FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx during the fourth quarter worth about $28,000. Runnymede Capital Advisors Inc. purchased a new position in shares of FedEx during the fourth quarter worth about $32,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of FedEx during the fourth quarter worth about $35,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX stock opened at $227.80 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 $194.30 and a one year high of $313.84. The company’s 50-day simple moving average is $215.61 and its 200-day simple moving average is $248.64. The stock has a market capitalization of $54.58 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the business earned $3.86 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is 34.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Barclays decreased their price target on FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 3rd. Wells Fargo & Company decreased their price target on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, TD Cowen decreased their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.33.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.87% of the company’s stock.

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.