Empirical Asset Management LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Empirical Asset Management LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 175,756 shares of the shipping service provider’s stock, valued at approximately $49,445,000. FedEx comprises about 1.4% of Empirical Asset Management LLC’s holdings, making the stock its 15th biggest holding. Empirical Asset Management LLC owned 0.07% of FedEx at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. FNY Investment Advisers LLC increased its holdings in shares of 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 in the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction 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 transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was 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 Stock Performance

Shares of FedEx stock opened at $277.23 on Friday. The firm has a market capitalization of $66.77 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.12 and a beta of 1.20. FedEx Co. has a 52 week low of $234.45 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 firm’s 50 day moving average is $283.82 and its two-hundred day moving average is $284.25.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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. The company 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 firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.99 earnings per share. Research analysts forecast that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.99%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. Robert W. Baird cut their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and lifted their target price for the company from $288.00 to $365.00 in a report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. BMO Capital Markets lifted their target price on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Company 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.