Gallo Partners LP Takes $1.15 Million Position in FedEx Co. (NYSE:FDX)

Gallo Partners LP bought a new stake in FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,098 shares of the shipping service provider's stock, valued at approximately $1,153,000.

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

FedEx Stock Performance

FDX stock traded up $9.60 during trading on Friday, reaching $219.66. The stock had a trading volume of 2,180,047 shares, compared to its average volume of 1,788,822. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The firm has a market cap of $52.63 billion, a PE ratio of 14.00, a PEG ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock's 50 day moving average is $228.72 and its two-hundred day moving average is $260.00.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.86 EPS. As a group, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.51%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FDX shares. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Barclays cut their price objective on FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and dropped their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Oppenheimer reissued a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.87% of the stock is currently owned by company insiders.

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.