Aigen Investment Management LP Invests $1.04 Million in FedEx Co. (NYSE:FDX)

Aigen Investment Management LP bought a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,685 shares of the shipping service provider’s stock, valued at approximately $1,037,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its holdings in FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after acquiring an additional 39 shares in the last quarter. Harbour Investments Inc. increased its holdings in FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after acquiring an additional 40 shares in the last quarter. Cetera Trust Company N.A increased its holdings in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after acquiring an additional 40 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Up 1.2 %

NYSE:FDX opened at $250.64 on Thursday. FedEx Co. has a twelve month low of $242.92 and a twelve month high of $313.84. The company has a market cap of $60.37 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock has a fifty day simple moving average of $267.66 and a 200-day simple moving average of $276.69. 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 (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping 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 business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 2.20%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several analyst reports. Citigroup increased their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Stephens cut their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $319.74.

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.