Gallo Partners LP Purchases New Position in FedEx Co. (NYSE:FDX)

Gallo Partners LP purchased a new stake in FedEx Co. (NYSE:FDXFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,098 shares of the shipping service provider’s stock, valued at approximately $1,153,000.

Several other large investors have also bought and sold shares of FDX. Utah Retirement Systems lifted its position in shares of FedEx by 0.5% during the fourth quarter. Utah Retirement Systems now owns 37,636 shares of the shipping service provider’s stock valued at $10,588,000 after purchasing an additional 200 shares in the last quarter. Soros Fund Management LLC purchased a new stake in FedEx in the 4th quarter valued at about $8,292,000. Northern Trust Corp boosted its stake in shares of FedEx by 13.1% in the 4th quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider’s stock worth $663,100,000 after buying an additional 273,478 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of FedEx by 22.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 167,139 shares of the shipping service provider’s stock valued at $47,021,000 after acquiring an additional 30,569 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $39,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDX shares. BMO Capital Markets decreased their target price on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. UBS Group decreased their target price on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Cfra Research raised shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Finally, Truist Financial lowered their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

Check Out Our Latest Stock Analysis on FedEx

Insider Buying and Selling at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’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 directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $209.88 on Wednesday. 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 business has a 50-day simple moving average of $231.19 and a two-hundred day simple moving average of $261.06. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The firm has a market cap of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDXGet Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 EPS. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.63%. FedEx’s dividend payout ratio (DPR) is 34.63%.

About FedEx

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.