Collar Capital Management LLC Purchases New Position in FedEx Co. (NYSE:FDX)

Collar Capital Management LLC bought a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,369 shares of the shipping service provider's stock, valued at approximately $2,073,000. FedEx accounts for about 1.7% of Collar Capital Management LLC's investment portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC acquired a new stake in shares of FedEx during the 4th quarter valued at about $26,000. Peoples Financial Services CORP. purchased a new position in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter worth about $28,000. Finally, Kentucky Trust Co purchased a new position in FedEx during the fourth quarter worth approximately $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 0.7 %

Shares of FDX stock traded down $1.54 during trading hours on Friday, hitting $217.67. The company had a trading volume of 1,166,869 shares, compared to its average volume of 1,790,212. 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's fifty day moving average is $224.70 and its 200 day moving average is $258.09. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock has a market capitalization of $52.15 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same period in the previous year, the company earned $3.86 earnings per share. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Raymond James lowered their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Barclays decreased their target price on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.87% of the company's stock.

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.