Parvin Asset Management LLC Makes New $281,000 Investment in FedEx Co. (NYSE:FDX)

Parvin Asset Management LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,000 shares of the shipping service provider’s stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Morse Asset Management Inc bought a new stake in FedEx during the 3rd quarter worth about $465,000. Virtu Financial LLC bought a new stake in FedEx during the 3rd quarter worth about $3,405,000. Aldebaran Financial Inc. raised its holdings in FedEx by 8.7% during the 3rd quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider’s stock worth $307,000 after purchasing an additional 90 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of FedEx by 4.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $513,000 after buying an additional 76 shares during the period. Finally, Tudor Financial Inc. acquired a new position in shares of FedEx during the 3rd quarter worth about $282,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FDX. 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. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stephens decreased their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Wells Fargo & Company decreased their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $297.71.

FedEx Stock Down 0.8 %

FedEx stock opened at $209.88 on Wednesday. The firm has a market capitalization of $50.29 billion, a PE ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24. The company’s 50-day moving average is $231.19 and its 200-day moving average is $261.06. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. 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 released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.86 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

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

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.87% of the stock is currently owned by insiders.

FedEx Company 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.