Garnet Equity Capital Holdings Inc. purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the shipping service provider’s stock, valued at approximately $3,743,000. FedEx accounts for approximately 3.0% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 16th biggest holding.
Other hedge funds also recently bought and sold shares of the company. Krilogy Financial LLC boosted its holdings in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Cerebellum GP LLC acquired a new stake in shares of FedEx during the fourth quarter worth approximately $125,000. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the third quarter worth approximately $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx during the third quarter worth approximately $136,000. Finally, Carroll Financial Associates Inc. boosted its holdings in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.
Shares of FedEx Co. (NYSE FDX) opened at $248.00 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. FedEx Co. has a one year low of $182.89 and a one year high of $274.66. The firm has a market cap of $66,200.00, a price-to-earnings ratio of 22.71, a PEG ratio of 1.44 and a beta of 1.32.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, March 9th. FedEx’s payout ratio is 18.38%.
In other news, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 over the last 90 days. 8.45% of the stock is owned by corporate insiders.
Several research firms recently commented on FDX. Oppenheimer restated 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 upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets restated a “buy” rating and set a $300.00 price target on shares of FedEx in a report on Monday, January 8th. Sanford C. Bernstein set a $212.00 price target on shares of FedEx and gave the stock a “hold” rating in a report on Wednesday, November 15th. Finally, Bank of America restated a “buy” rating and set a $315.00 price target on shares of FedEx in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $275.04.
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FedEx Company Profile
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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