FedEx Co. (FDX) Shares Bought by 12th Street Asset Management Company LLC
12th Street Asset Management Company LLC increased its stake in FedEx Co. (NYSE:FDX) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,375 shares of the shipping service provider’s stock after purchasing an additional 5,841 shares during the period. FedEx accounts for 8.2% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 4th largest position. 12th Street Asset Management Company LLC’s holdings in FedEx were worth $32,534,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after purchasing an additional 266,660 shares during the last quarter. Jennison Associates LLC raised 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 acquiring an additional 1,185,447 shares in the last quarter. Capital World Investors raised its stake in FedEx by 16.1% during the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after acquiring an additional 501,617 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in FedEx by 3.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock valued at $814,875,000 after acquiring an additional 116,500 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in FedEx by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,392,806 shares of the shipping service provider’s stock valued at $595,716,000 after acquiring an additional 73,830 shares in the last quarter. 74.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx Co. (NYSE FDX) opened at $241.31 on Monday. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $274.66. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $64,640.00, a price-to-earnings ratio of 22.18, a PEG ratio of 1.41 and a beta of 1.32.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s payout ratio is 18.38%.
Several analysts have weighed in on FDX shares. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. UBS Group raised FedEx from a “neutral” rating to a “buy” rating and lifted their target price for the company from $264.00 to $302.00 in a research note on Friday, January 5th. Sanford C. Bernstein set a $236.00 target price on FedEx and gave the company a “hold” rating in a research note on Wednesday, December 20th. Loop Capital lifted their target price on FedEx to $318.00 in a research note on Thursday, January 4th. Finally, BMO Capital Markets lifted their target price on FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $275.04.
In related news, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction on Friday, January 5th. The stock was 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 in the company, valued at approximately $4,267,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at $46,892,778.25. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock worth $13,692,142 over the last 90 days. 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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