Assenagon Asset Management S.A. Purchases 132,036 Shares of FedEx Co. (NYSE:FDX)

Assenagon Asset Management S.A. raised its position in shares of FedEx Co. (NYSE:FDX) by 137.6% in the fourth quarter, Holdings Channel reports. The fund owned 227,965 shares of the shipping service provider’s stock after buying an additional 132,036 shares during the quarter. Assenagon Asset Management S.A.’s holdings in FedEx were worth $64,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter worth $28,000. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter worth $31,000. Finally, FNY Investment Advisers LLC raised its stake in FedEx by 177.5% during the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FDX. BMO Capital Markets boosted their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Price Performance

FedEx stock opened at $276.62 on Thursday. The business’s fifty day moving average is $283.89 and its two-hundred day moving average is $284.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market cap of $66.62 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.18 and a beta of 1.20. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 EPS. Equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

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.