Lynch Asset Management Inc. Acquires 250 Shares of FedEx Co. (NYSE:FDX)

Lynch Asset Management Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,550 shares of the shipping service provider’s stock after purchasing an additional 250 shares during the quarter. FedEx makes up 2.0% of Lynch Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Lynch Asset Management Inc.’s holdings in FedEx were worth $4,937,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FDX. Geode Capital Management LLC grew its stake in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. grew its position in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after acquiring an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares during the last quarter. Finally, Sentry LLC boosted its stake in FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after acquiring an additional 5,404 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays increased their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BMO Capital Markets increased their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $325.43.

Insider Buying and Selling

In other news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Down 1.6 %

FDX stock opened at $264.96 on Monday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm’s fifty day moving average is $279.62 and its 200 day moving average is $282.22. The firm has a market cap of $63.82 billion, a PE ratio of 16.89, a P/E/G ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its earnings results 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. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.99 EPS. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.08%. 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.