Tidal Investments LLC Increases Holdings in FedEx Co. (NYSE:FDX)

Tidal Investments LLC boosted its stake in shares of FedEx Co. (NYSE:FDX) by 77.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,530 shares of the shipping service provider’s stock after buying an additional 7,678 shares during the period. Tidal Investments LLC’s holdings in FedEx were worth $5,079,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mayflower Financial Advisors LLC raised its stake in FedEx by 4.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,771 shares of the shipping service provider’s stock worth $448,000 after purchasing an additional 78 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of FedEx by 1.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 20,401 shares of the shipping service provider’s stock worth $5,161,000 after buying an additional 263 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of FedEx by 64.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 255 shares of the shipping service provider’s stock valued at $65,000 after buying an additional 100 shares during the period. Chicago Capital LLC acquired a new position in FedEx in the fourth quarter valued at approximately $428,000. Finally, Osborne Partners Capital Management LLC grew its position in FedEx by 22.5% in the fourth quarter. Osborne Partners Capital Management LLC now owns 1,245 shares of the shipping service provider’s stock worth $315,000 after acquiring an additional 229 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. UBS Group decreased their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. StockNews.com upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Finally, Bank of America increased their price objective on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Down 1.3 %

Shares of FedEx stock traded down $4.00 during trading on Thursday, hitting $298.25. 385,644 shares of the stock were exchanged, compared to its average volume of 1,884,087. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm’s 50-day moving average price is $275.93 and its 200 day moving average price is $263.50. The stock has a market cap of $72.86 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.18. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the previous year, the business earned $4.94 EPS. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.85%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Transactions at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the sale, the director now owns 35,183 shares in the company, valued at approximately $10,474,330.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently 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.