Lighthouse Investment Partners LLC Acquires Shares of 34,578 FedEx Co. (NYSE:FDX)

Lighthouse Investment Partners LLC acquired a new stake in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,578 shares of the shipping service provider’s stock, valued at approximately $9,728,000.

Several other large investors have also bought and sold shares of the stock. Transce3nd LLC bought a new stake in shares of FedEx during the 4th quarter worth $26,000. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the 4th quarter worth $28,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on FDX. Barclays lowered their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Stephens decreased their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.71.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Down 0.7%

Shares of NYSE FDX opened at $217.67 on Monday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. 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 capitalization of $52.15 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.11 and a beta of 1.36. The business has a 50-day moving average of $224.70 and a 200-day moving average of $257.92.

FedEx (NYSE:FDX) last issued 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 business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the previous year, the firm posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.54%. FedEx’s payout ratio is 34.63%.

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.