Matrix Asset Advisors Inc. NY Has $13.93 Million Stock Position in FedEx Co. (NYSE:FDX)

Matrix Asset Advisors Inc. NY cut its holdings in FedEx Co. (NYSE:FDX) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,524 shares of the shipping service provider’s stock after selling 523 shares during the quarter. FedEx makes up 1.5% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 28th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in FedEx were worth $13,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. KBC Group NV boosted its holdings in shares of FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares in the last quarter. World Investment Advisors LLC grew its position in FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new position in FedEx in the 4th quarter worth about $49,445,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FDX. UBS Group boosted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Loop Capital raised FedEx from a “hold” rating to a “buy” rating and increased their price target for the company from $288.00 to $365.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.43.

FedEx Stock Performance

Shares of FedEx stock opened at $281.68 on Tuesday. The business has a 50-day simple moving average of $281.64 and a 200 day simple moving average of $283.13. FedEx Co. has a one year low of $234.45 and a one year 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. The firm has a market capitalization of $67.84 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the previous year, the company posted $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.96%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Activity at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

FedEx 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.