Kazazian Asset Management LLC Invests $957,000 in FedEx Co. (NYSE:FDX)

Kazazian Asset Management LLC bought a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,400 shares of the shipping service provider’s stock, valued at approximately $957,000. FedEx accounts for about 0.7% of Kazazian Asset Management LLC’s portfolio, making the stock its 29th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. bLong Financial LLC bought a new stake in shares of FedEx during the 4th quarter valued at about $391,000. Virtu Financial LLC bought a new stake in shares of FedEx during the 3rd quarter valued at about $3,405,000. Lodestone Wealth Management LLC bought a new stake in shares of FedEx during the 4th quarter valued at about $461,000. Wedmont Private Capital grew its position in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new position in FedEx during the 4th quarter valued at about $26,855,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

FDX stock opened at $245.58 on Wednesday. FedEx Co. has a 52-week low of $239.50 and a 52-week high of $313.84. The company’s 50 day simple moving average is $261.87 and its 200-day simple moving average is $273.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $59.15 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Analysts Set New Price Targets

FDX has been the subject of a number of analyst reports. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stephens reduced their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, Citigroup reduced their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $317.48.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

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.