NEOS Investment Management LLC Acquires 2,483 Shares of FedEx Co. (NYSE:FDX)

NEOS Investment Management LLC grew its holdings in FedEx Co. (NYSE:FDX) by 28.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the shipping service provider’s stock after purchasing an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in FedEx were worth $3,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. United Bank bought a new stake in FedEx in the 3rd quarter valued at about $615,000. Quest Partners LLC bought a new stake in shares of FedEx during the third quarter valued at approximately $123,000. Townsquare Capital LLC raised its position in shares of FedEx by 19.5% during the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock worth $483,000 after purchasing an additional 288 shares during the period. Bridgewater Associates LP lifted its holdings in shares of FedEx by 38.8% in the 3rd quarter. Bridgewater Associates LP now owns 25,022 shares of the shipping service provider’s stock worth $6,848,000 after purchasing an additional 6,994 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in FedEx by 3.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 56,847 shares of the shipping service provider’s stock valued at $15,558,000 after purchasing an additional 2,064 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. Cfra Research raised shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Barclays decreased their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, TD Cowen cut their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Stock Down 0.9 %

FDX opened at $241.75 on Friday. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The company has a market cap of $58.22 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $256.59 and a 200 day moving average of $271.07.

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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the business earned $3.86 earnings per share. FedEx’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

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

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.