Kazazian Asset Management LLC Acquires New Position in FedEx Co. (NYSE:FDX)

Kazazian Asset Management LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx in the fourth quarter valued at about $28,000. City Holding Co. purchased a new position in FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co purchased a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new position in FedEx in the fourth quarter valued at about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ 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 Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Stephens dropped their price objective 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $317.48.

FedEx Stock Up 0.1 %

Shares of FDX opened at $245.58 on Wednesday. The firm has a market cap of $59.15 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company’s fifty day moving average is $261.87 and its two-hundred day moving average is $273.48. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two 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.

FedEx (NYSE:FDX) last posted its earnings results 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 business 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 business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 EPS. Analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

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.