Headlands Technologies LLC Purchases New Stake in FedEx Co. (NYSE:FDX)

Headlands Technologies LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, Holdings Channel.com reports. The firm acquired 6,012 shares of the shipping service provider’s stock, valued at approximately $1,691,000.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of FedEx by 3.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 8,355 shares of the shipping service provider’s stock valued at $2,222,000 after purchasing an additional 273 shares during the period. Franklin Resources Inc. boosted its position in shares of FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Family Legacy Inc. increased its holdings in FedEx by 17.7% in the fourth quarter. Family Legacy Inc. now owns 2,137 shares of the shipping service provider’s stock valued at $588,000 after purchasing an additional 321 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in FedEx by 61,300.0% in the fourth quarter. Meeder Asset Management Inc. now owns 23,332 shares of the shipping service provider’s stock valued at $6,564,000 after buying an additional 23,294 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 over the last ninety days. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Performance

Shares of FDX opened at $241.86 on Wednesday. The company has a market cap of $57.95 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average of $255.30 and a 200-day moving average of $270.28. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FDX shares. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. BMO Capital Markets lowered their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Citigroup reduced their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $302.71.

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.