Pilgrim Partners Asia Pte Ltd Makes New Investment in FedEx Co. (NYSE:FDX)

Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, Holdings Channel reports. The firm purchased 100 shares of the shipping service provider’s stock, valued at approximately $28,000.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC boosted 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 acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co purchased a new stake in FedEx in the fourth quarter worth $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 2.8 %

FDX opened at $209.90 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $252.45 and its 200 day simple moving average is $268.95. FedEx Co. has a 52 week low of $203.90 and a 52 week high of $313.84. The stock has a market cap of $50.29 billion, a PE ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid 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 dividend payout ratio (DPR) is 34.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FDX shares. Truist Financial began coverage on FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. BMO Capital Markets dropped their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Two equities research 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. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling at FedEx

In other 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,711 shares of company stock valued at $3,312,693 in the last 90 days. Insiders own 8.87% of the company’s stock.

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.