Jag Capital Management LLC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Jag Capital Management LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,755 shares of the shipping service provider’s stock after purchasing an additional 248 shares during the period. Jag Capital Management LLC’s holdings in FedEx were worth $3,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI raised its holdings in shares of FedEx by 13.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,215 shares of the shipping service provider’s stock valued at $3,708,000 after purchasing an additional 1,572 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in FedEx during the fourth quarter valued at approximately $356,000. Charles Schwab Investment Management Inc. increased its holdings in FedEx by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock valued at $422,202,000 after buying an additional 49,160 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in FedEx by 2.0% during the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,488 shares of the shipping service provider’s stock valued at $1,263,000 after buying an additional 89 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in FedEx by 4.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 16,932 shares of the shipping service provider’s stock valued at $4,763,000 after buying an additional 763 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on FDX. UBS Group upped their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.74.

Insider Activity

In related news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly 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. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

FDX stock opened at $258.62 on Tuesday. FedEx Co. has a 52 week low of $242.92 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $268.58 and a two-hundred day simple moving average of $277.14. The firm has a market capitalization of $62.29 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the business earned $3.99 earnings per share. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

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.