Picton Mahoney Asset Management Has $1.75 Million Stock Position in FedEx Co. (NYSE:FDX)

Picton Mahoney Asset Management lessened its stake in FedEx Co. (NYSE:FDX) by 5.7% in the fourth quarter, Holdings Channel reports. The firm owned 6,214 shares of the shipping service provider’s stock after selling 375 shares during the quarter. Picton Mahoney Asset Management’s holdings in FedEx were worth $1,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC raised its stake in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new position in FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $242.27 on Friday. The business’s 50 day simple moving average is $263.04 and its 200 day simple moving average is $274.37. FedEx Co. has a one year low of $239.50 and a one year high of $313.84. The stock has a market capitalization of $58.35 billion, a PE ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Loop Capital cut FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets lifted their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

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.