Synergy Investment Management LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Synergy Investment Management LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,265 shares of the shipping service provider’s stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ACR Alpine Capital Research LLC lifted its holdings in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC grew its stake in shares of FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after acquiring an additional 321,141 shares in the last quarter. Franklin Resources Inc. increased its holdings in FedEx by 8.6% during 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 purchasing an additional 314,380 shares during the period. KBC Group NV raised its holdings in FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $56,065,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the subject of several recent analyst reports. Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price target on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday. Finally, Stifel Nicolaus lowered their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.74.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

NYSE FDX opened at $258.62 on Tuesday. FedEx Co. has a twelve month low of $242.92 and a twelve month high of $313.84. The business’s 50-day moving average price is $268.58 and its 200 day moving average price is $277.14. The company has a market capitalization of $62.29 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 earnings per share. On average, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

FedEx 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.