Collar Capital Management LLC Makes New $2.07 Million Investment in FedEx Co. (NYSE:FDX)

Collar Capital Management LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,369 shares of the shipping service provider’s stock, valued at approximately $2,073,000. FedEx accounts for 1.7% of Collar Capital Management LLC’s holdings, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC grew its position in FedEx by 9.1% during the fourth quarter. Colonial Trust Co SC now owns 11,231 shares of the shipping service provider’s stock valued at $3,160,000 after buying an additional 937 shares during the period. Concentric Capital Strategies LP purchased a new position in FedEx in the 4th quarter worth approximately $1,620,000. Cornerstone Select Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $260,000. Captrust Financial Advisors lifted its holdings in shares of FedEx by 7.5% in the fourth quarter. Captrust Financial Advisors now owns 114,865 shares of the shipping service provider’s stock worth $32,315,000 after buying an additional 8,061 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of FedEx during the fourth quarter worth $10,222,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $213.44 on Wednesday. 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 market cap of $51.14 billion, a PE ratio of 13.60, a PEG ratio of 1.11 and a beta of 1.36. The business’s fifty day simple moving average is $227.04 and its 200-day simple moving average is $259.09. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.59%. FedEx’s dividend payout ratio is currently 34.63%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research reports. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and dropped their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Truist Financial lowered their target price on FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Raymond James decreased their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Stephens dropped their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.71.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.87% of the company’s stock.

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.