Paradoxiom Capital L.P. Invests $9.57 Million in FedEx Co. (NYSE:FDX)

Paradoxiom Capital L.P. purchased a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,014 shares of the shipping service provider’s stock, valued at approximately $9,569,000. FedEx accounts for about 4.0% of Paradoxiom Capital L.P.’s investment portfolio, making the stock its 6th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after purchasing an additional 56,236 shares during the period. Dodge & Cox lifted its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the period. Franklin Resources Inc. grew its stake in FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after acquiring an additional 127,044 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $297.63.

FedEx Stock Down 0.7%

Shares of FDX stock opened at $231.26 on Wednesday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a 50 day simple moving average of $223.98 and a two-hundred day simple moving average of $257.46. 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 stock has a market cap of $55.41 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.86 EPS. On average, research 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 was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.39%. FedEx’s dividend payout ratio is presently 34.63%.

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.