ACR Alpine Capital Research LLC Acquires 329,170 Shares of FedEx Co. (NYSE:FDX)

ACR Alpine Capital Research LLC raised its position in FedEx Co. (NYSE:FDX) by 62.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 852,767 shares of the shipping service provider’s stock after acquiring an additional 329,170 shares during the quarter. FedEx makes up about 5.2% of ACR Alpine Capital Research LLC’s holdings, making the stock its 10th biggest holding. ACR Alpine Capital Research LLC owned about 0.35% of FedEx worth $239,909,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter worth $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter worth about $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.8 %

NYSE:FDX opened at $263.11 on Monday. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84. The business’s 50-day moving average price is $268.78 and its two-hundred day moving average price is $277.32. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $63.37 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last released 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. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the firm posted $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Citigroup increased their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $321.87.

Insider Transactions at FedEx

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

FedEx 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.