Paradoxiom Capital L.P. Acquires New Stake in FedEx Co. (NYSE:FDX)

Paradoxiom Capital L.P. bought a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 34,014 shares of the shipping service provider’s stock, valued at approximately $9,569,000. FedEx accounts for about 4.0% of Paradoxiom Capital L.P.’s investment portfolio, making the stock its 6th biggest holding.

Other large investors have also recently made changes to their positions in the company. Transce3nd LLC bought a new position in FedEx in the 4th quarter worth about $26,000. Peoples Financial Services CORP. purchased a new position in FedEx during the 4th quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx during the fourth quarter valued at approximately $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen decreased their price target 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. UBS Group reduced their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Raymond James lowered their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Cfra Research upgraded FedEx to a “hold” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $297.63.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.87% of the company’s stock.

FedEx Trading Down 0.7%

NYSE:FDX opened at $231.26 on Wednesday. The stock has a fifty day moving average price of $223.98 and a 200 day moving average price of $257.46. 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 firm has a market cap of $55.41 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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 net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the company earned $3.86 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.39%. FedEx’s payout ratio 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.