Aquatic Capital Management LLC Buys New Shares in FedEx Co. (NYSE:FDX)

Aquatic Capital Management LLC acquired a new stake in FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 79,941 shares of the shipping service provider's stock, valued at approximately $22,490,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Norges Bank acquired a new position in shares of FedEx during the 4th quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at about $234,028,000. Dodge & Cox boosted its position in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the period. Capital Research Global Investors acquired a new stake in shares of FedEx in the 4th quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC boosted its position in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after purchasing an additional 329,170 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 0.5 %

Shares of FDX traded down $1.03 during midday trading on Thursday, hitting $209.30. The company had a trading volume of 444,051 shares, compared to its average volume of 1,778,264. The firm has a market capitalization of $50.15 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company's 50-day simple moving average is $230.32 and its 200-day simple moving average is $260.71. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter last year, the firm earned $3.86 earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FDX has been the subject of several analyst reports. Cfra Research raised FedEx to a "hold" rating in a research note on Thursday, March 20th. BMO Capital Markets cut their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and cut their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Stephens reduced their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Bank of America decreased their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

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.