Pine Valley Investments Ltd Liability Co Has $3.07 Million Stock Position in FedEx Co. (NYSE:FDX)

Pine Valley Investments Ltd Liability Co cut its holdings in shares of FedEx Co. (NYSE:FDX) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,920 shares of the shipping service provider’s stock after selling 1,743 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in FedEx were worth $3,073,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC raised its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx during the fourth quarter worth about $28,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and lowered their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Buying and Selling at FedEx

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

FedEx Stock Down 0.5 %

NYSE:FDX opened at $252.94 on Tuesday. The company has a market cap of $60.92 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s fifty day moving average price is $270.14 and its two-hundred day moving average price is $277.95. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’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 earnings per share. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm 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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

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.