Barometer Capital Management Inc. bought a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 72,320 shares of the shipping service provider’s stock, valued at approximately $18,047,000. FedEx makes up about 1.6% of Barometer Capital Management Inc.’s holdings, making the stock its 21st largest holding.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Salem Investment Counselors Inc. grew its holdings in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Cerebellum GP LLC acquired a new stake in FedEx in the fourth quarter worth $125,000. Krilogy Financial LLC grew its holdings in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in FedEx in the fourth quarter worth $144,000. Finally, Financial Engines Advisors L.L.C. acquired a new stake in FedEx in the third quarter worth $132,000. 74.01% of the stock is owned by institutional investors and hedge funds.
FedEx Co. (NYSE:FDX) opened at $252.22 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $274.66. The firm has a market cap of $67,570.00, a PE ratio of 23.18, a P/E/G ratio of 1.47 and a beta of 1.30.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, March 9th. FedEx’s payout ratio is currently 18.38%.
In related news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders have sold 53,541 shares of company stock worth $13,692,142 over the last three months. 8.45% of the stock is owned by insiders.
FDX has been the subject of a number of research reports. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They issued a “buy” rating and a $270.00 price target for the company. Sanford C. Bernstein set a $212.00 price target on shares of FedEx and gave the stock a “hold” rating in a report on Wednesday, November 15th. Barclays restated an “overweight” rating and issued a $270.00 price target (up from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. Finally, Citigroup raised their price target on shares of FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $275.04.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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