Syntax Research Inc. Acquires 143 Shares of FedEx Co. (NYSE:FDX)

Syntax Research Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,936 shares of the shipping service provider’s stock after buying an additional 143 shares during the quarter. FedEx accounts for about 2.4% of Syntax Research Inc.’s investment portfolio, making the stock its 12th biggest position. Syntax Research Inc.’s holdings in FedEx were worth $3,358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. United Bank purchased a new stake in shares of FedEx in the third quarter valued at approximately $615,000. Quest Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $123,000. Citizens Financial Group Inc. RI boosted its holdings in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of FedEx by 7.4% in the third quarter. Meridian Wealth Management LLC now owns 803 shares of the shipping service provider’s stock valued at $220,000 after purchasing an additional 55 shares during the period. Finally, Nwam LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $387,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $230.25 on Monday. The stock has a 50-day simple moving average of $259.95 and a two-hundred day simple moving average of $272.35. The firm has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 EPS. On average, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FDX. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Wells Fargo & Company lowered their target price on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday. Raymond James lowered their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, TD Cowen lowered their target price on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $301.67.

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.