Harvest Fund Management Co. Ltd Makes New Investment in FedEx Co. (NYSE:FDX)

Harvest Fund Management Co. Ltd bought a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 690 shares of the shipping service provider’s stock, valued at approximately $194,000.

Several other hedge funds have also recently bought and sold shares of the stock. bLong Financial LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $461,000. Wedmont Private Capital raised its holdings in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $26,855,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 6.5 %

Shares of FedEx stock opened at $230.25 on Friday. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The firm has a 50-day moving average of $259.95 and a 200-day moving average of $272.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the company earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s dividend payout ratio is 35.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets lowered their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.67.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

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.