Two Sigma Investments LP boosted its position in shares of FedEx Co. (NYSE:FDX) by 178.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,142 shares of the shipping service provider’s stock after acquiring an additional 189,105 shares during the period. Two Sigma Investments LP’s holdings in FedEx were worth $73,650,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of FDX. Jennison Associates LLC increased its stake in FedEx by 47.4% during the 4th quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after purchasing an additional 1,185,447 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of FedEx by 132.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,065,242 shares of the shipping service provider’s stock worth $265,820,000 after acquiring an additional 607,585 shares during the period. Fred Alger Management Inc. acquired a new stake in shares of FedEx in the fourth quarter worth $124,920,000. Cornerstone Investment Partners LLC increased its stake in shares of FedEx by 105.0% in the fourth quarter. Cornerstone Investment Partners LLC now owns 687,170 shares of the shipping service provider’s stock worth $171,476,000 after acquiring an additional 351,909 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of FedEx by 138.0% in the fourth quarter. American Century Companies Inc. now owns 592,730 shares of the shipping service provider’s stock worth $147,910,000 after acquiring an additional 343,735 shares during the period. 74.65% of the stock is owned by institutional investors.
FedEx Co. (FDX) traded up $2.28 on Tuesday, reaching $248.82. 76,887 shares of the company’s stock traded hands, compared to its average volume of 1,795,237. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $66,200.88, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $274.66.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio is currently 18.43%.
A number of research firms have recently weighed in on FDX. Bank of America reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. Wells Fargo & Co set a $275.00 price target on shares of FedEx and gave the stock a “buy” rating in a report on Wednesday, December 20th. Oppenheimer reissued a “buy” rating and set a $265.00 price target (up from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $297.00 price target on the stock in a report on Friday, January 5th. Finally, Sanford C. Bernstein raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $275.04.
In other 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 value 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 SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,541 shares of company stock worth $13,692,142. Insiders own 8.45% of the company’s stock.
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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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