FedEx Co. (NYSE:FDX) is Huber Capital Management LLC’s 10th Largest Position

Huber Capital Management LLC raised its position in FedEx Co. (NYSE:FDX) by 58.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,779 shares of the shipping service provider’s stock after purchasing an additional 17,910 shares during the period. FedEx accounts for 2.7% of Huber Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Huber Capital Management LLC’s holdings in FedEx were worth $13,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new stake in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co acquired a new position in shares of FedEx in the 4th quarter valued at $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FDX. Stephens dropped their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx Price Performance

Shares of NYSE:FDX opened at $245.45 on Thursday. 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 business’s fifty day moving average price is $254.79 and its two-hundred day moving average price is $270.10. The stock has a market cap of $58.81 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a one year low of $217.22 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.86 EPS. On average, analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.25%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,711 shares of company stock valued at $3,312,693. Insiders own 8.87% of the company’s stock.

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.