Horizon Investments LLC Purchases 107 Shares of FedEx Co. (NYSE:FDX)

Horizon Investments LLC increased its position in FedEx Co. (NYSE:FDX) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,106 shares of the shipping service provider’s stock after buying an additional 107 shares during the quarter. Horizon Investments LLC’s holdings in FedEx were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Axxcess Wealth Management LLC lifted its position in FedEx by 0.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 23,242 shares of the shipping service provider’s stock worth $6,539,000 after buying an additional 176 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in FedEx by 50.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 245,539 shares of the shipping service provider’s stock worth $69,078,000 after buying an additional 82,189 shares during the last quarter. Curio Wealth LLC bought a new stake in FedEx in the 4th quarter worth approximately $45,000. TCTC Holdings LLC lifted its position in FedEx by 2.9% in the 4th quarter. TCTC Holdings LLC now owns 4,890 shares of the shipping service provider’s stock worth $1,376,000 after buying an additional 138 shares during the last quarter. Finally, Cibc World Markets Corp increased its stake in FedEx by 15.5% in the 4th quarter. Cibc World Markets Corp now owns 35,788 shares of the shipping service provider’s stock worth $10,068,000 after purchasing an additional 4,792 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.1 %

Shares of NYSE:FDX opened at $245.58 on Wednesday. The company has a market cap of $59.15 billion, a P/E ratio of 15.65, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1 year low of $239.50 and a 1 year high of $313.84. The stock’s fifty day moving average price is $261.87 and its 200-day moving average price is $273.48.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the company posted $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, 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 value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following 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 disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Finally, BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $317.48.

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.