Pacific Heights Asset Management LLC Has $16.60 Million Holdings in FedEx Co. (NYSE:FDX)

Pacific Heights Asset Management LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 59,000 shares of the shipping service provider’s stock after buying an additional 1,000 shares during the quarter. FedEx accounts for approximately 1.1% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 27th largest holding. Pacific Heights Asset Management LLC’s holdings in FedEx were worth $16,598,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in FedEx during the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC grew its holdings in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC increased 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 valued at $90,751,000 after buying an additional 321,141 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Finally, KBC Group NV lifted its position in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after buying an additional 226,608 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

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

Wall Street Analyst Weigh In

Several research firms have weighed in on FDX. UBS Group raised their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Stifel Nicolaus lowered their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $317.78.

FedEx Stock Performance

Shares of FDX stock opened at $249.67 on Friday. The company has a market capitalization of $60.13 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $242.92 and a 52 week 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 company’s 50 day moving average price is $267.08 and its two-hundred day moving average price is $276.51.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio 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.