Mission Creek Capital Partners Inc. Boosts Stake in FedEx Co. (NYSE:FDX)

Mission Creek Capital Partners Inc. grew its stake in FedEx Co. (NYSE:FDX) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,424 shares of the shipping service provider’s stock after acquiring an additional 694 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in FedEx were worth $963,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC grew 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 during the last quarter. Transce3nd LLC purchased a new position in shares of FedEx in the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s 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 transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. UBS Group reduced their price target on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. BMO Capital Markets reduced their target price on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Barclays dropped their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

FedEx Stock Down 2.0 %

Shares of FDX opened at $211.45 on Friday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market cap of $50.66 billion, a P/E ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24. 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 stock’s 50 day moving average is $233.47 and its two-hundred day moving average is $261.81.

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 the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the firm posted $3.86 earnings per share. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

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.