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Matthew 25 Management Corp lowered its stake in FedEx Co. (NYSE:FDX – Get Rating) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,000 shares of the shipping service provider’s stock after selling 10,000 shares during the quarter. FedEx accounts for approximately 7.3% of Matthew 25 Management Corp’s portfolio, making the stock its 2nd largest position. Matthew 25 Management Corp’s holdings in FedEx were worth $17,816,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its stake in shares of FedEx by 6.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,420 shares of the shipping service provider’s stock valued at $1,993,000 after acquiring an additional 839 shares in the last quarter. Arjuna Capital bought a new stake in FedEx during the 3rd quarter valued at $1,134,000. Kestra Advisory Services LLC increased its stake in FedEx by 9.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 52,172 shares of the shipping service provider’s stock valued at $7,746,000 after purchasing an additional 4,374 shares in the last quarter. Leisure Capital Management increased its stake in FedEx by 4.1% during the 3rd quarter. Leisure Capital Management now owns 5,036 shares of the shipping service provider’s stock valued at $748,000 after purchasing an additional 198 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in FedEx during the 3rd quarter valued at $23,193,000. Institutional investors own 72.02% of the company’s stock.
Insider Activity
In related news, Director Amy B. Lane purchased 280 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were purchased at an average cost of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the transaction, the director now directly owns 1,529 shares in the company, valued at approximately $268,844.07. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.62% of the company’s stock.
Analyst Ratings Changes
FDX has been the subject of a number of recent research reports. Barclays set a $240.00 price target on shares of FedEx in a research note on Monday, January 2nd. StockNews.com initiated coverage on shares of FedEx in a research note on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group set a $218.00 price target on shares of FedEx in a research note on Monday, January 2nd. Susquehanna lifted their price objective on shares of FedEx from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, December 21st. Finally, Credit Suisse Group set a $238.00 price objective on shares of FedEx in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $205.52.
FedEx Trading Down 1.7 %
Shares of FedEx stock opened at $188.63 on Friday. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $256.66. The stock’s 50-day simple moving average is $175.67 and its 200 day simple moving average is $189.31. The stock has a market capitalization of $47.61 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.30.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, December 9th. FedEx’s dividend payout ratio is presently 36.14%.
About FedEx
(Get Rating)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
See Also
- Get a free copy of the StockNews.com research report on FedEx (FDX)
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Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX – Get Rating).
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