Lynch Asset Management Inc. Raises Stake in FedEx Co. (NYSE:FDX)

Lynch Asset Management Inc. lifted its stake in shares of FedEx Co. (NYSE:FDX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,550 shares of the shipping service provider’s stock after acquiring an additional 250 shares during the period. FedEx accounts for approximately 2.0% of Lynch Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Lynch Asset Management Inc.’s holdings in FedEx were worth $4,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. IVC Wealth Advisors LLC boosted its holdings in FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after purchasing an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC lifted its holdings in FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after acquiring an additional 39 shares during the last quarter. Buckley Wealth Management LLC grew its position in FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after acquiring an additional 40 shares during the period. Finally, Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FDX shares. Wells Fargo & Company increased their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. TD Cowen upped their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Raymond James upped their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

Insider Activity

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

FedEx Stock Performance

FedEx stock opened at $264.96 on Monday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a fifty day moving average price of $279.62 and a two-hundred day moving average price of $282.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $63.82 billion, a PE ratio of 16.89, a P/E/G ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 earnings per share. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s payout ratio is 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.