Pinnbrook Capital Management LP Invests $4.01 Million in FedEx Co. (NYSE:FDX)

Pinnbrook Capital Management LP purchased a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,246 shares of the shipping service provider’s stock, valued at approximately $4,008,000.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the period. Franklin Resources Inc. increased its stake in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after acquiring an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares during the period. Finally, Sentry LLC grew its holdings in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after purchasing an additional 5,404 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP John W. Dietrich purchased 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, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly 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. Company insiders own 8.87% of the company’s stock.

FedEx Trading Up 1.8 %

NYSE FDX opened at $267.83 on Tuesday. The firm has a market capitalization of $64.51 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The business’s 50-day moving average price is $272.40 and its two-hundred day moving average price is $278.92. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upped their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Bank of America upped their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James lifted their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

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.