Point72 Asia Hong Kong Ltd Purchases 604 Shares of FedEx Co. (FDX)

Point72 Asia Hong Kong Ltd lifted its position in shares of FedEx Co. (NYSE:FDX) by 62.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,574 shares of the shipping service provider’s stock after buying an additional 604 shares during the period. Point72 Asia Hong Kong Ltd’s holdings in FedEx were worth $378,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FDX. Buckingham Capital Management Inc. boosted its position in shares of FedEx by 9.1% during the third quarter. Buckingham Capital Management Inc. now owns 5,183 shares of the shipping service provider’s stock worth $1,169,000 after buying an additional 433 shares during the period. LS Investment Advisors LLC boosted its position in shares of FedEx by 13.8% during the fourth quarter. LS Investment Advisors LLC now owns 6,689 shares of the shipping service provider’s stock worth $1,669,000 after buying an additional 812 shares during the period. Sigma Planning Corp boosted its position in FedEx by 13.8% during the fourth quarter. Sigma Planning Corp now owns 4,573 shares of the shipping service provider’s stock valued at $1,141,000 after purchasing an additional 555 shares during the last quarter. Wealthstreet Investment Advisors LLC acquired a new position in FedEx during the fourth quarter valued at approximately $5,048,000. Finally, Evermay Wealth Management LLC boosted its position in FedEx by 17.6% during the fourth quarter. Evermay Wealth Management LLC now owns 1,640 shares of the shipping service provider’s stock valued at $409,000 after purchasing an additional 245 shares during the last quarter. 73.66% of the stock is owned by institutional investors.

Several brokerages recently commented on FDX. Credit Suisse Group reduced their price target on FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a research report on Wednesday, March 21st. Robert W. Baird upped their price objective on FedEx from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, March 15th. Zacks Investment Research lowered FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Citigroup upped their price objective on FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, May 16th. Finally, Morgan Stanley dropped their price objective on FedEx from $250.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $280.73.

In other FedEx news, CEO Frederick W. Smith sold 124,000 shares of the firm’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total value of $31,742,760.00. Following the sale, the chief executive officer now owns 14,864,465 shares of the company’s stock, valued at approximately $3,805,154,395.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 4,400 shares of the firm’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total value of $1,122,000.00. Following the completion of the sale, the director now directly owns 14,400 shares in the company, valued at approximately $3,672,000. The disclosure for this sale can be found here. Company insiders own 8.45% of the company’s stock.

FedEx stock opened at $262.92 on Thursday. FedEx Co. has a one year low of $203.13 and a one year high of $274.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.37 and a current ratio of 1.43. The firm has a market cap of $70.18 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.20 and a beta of 1.38.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.61. The firm had revenue of $16.53 billion for the quarter, compared to the consensus estimate of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 EPS. equities research analysts expect that FedEx Co. will post 15.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Shareholders of record on Monday, June 25th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, June 22nd. This is an increase from FedEx’s previous quarterly dividend of $0.50. FedEx’s dividend payout ratio (DPR) is currently 16.26%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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