Biltmore Family Office LLC Invests $282,000 in FedEx (FDX) Stock

Biltmore Family Office LLC bought a new stake in shares of FedEx (NYSE:FDX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,127 shares of the shipping service provider’s stock, valued at approximately $282,000.

A number of other hedge funds have also added to or reduced their stakes in FDX. Cerebellum GP LLC bought a new stake in FedEx during the fourth quarter valued at $125,000. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the third quarter valued at $132,000. Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx during the third quarter valued at $136,000. Carroll Financial Associates Inc. boosted its holdings in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after acquiring an additional 240 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of FedEx during the fourth quarter valued at $144,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.

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Several equities analysts have recently issued reports on the stock. Credit Suisse Group reduced their price target on shares of FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a report on Wednesday, March 21st. Oppenheimer reissued a “buy” rating and set a $265.00 price target (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reissued a “buy” rating and set a $300.00 price target on shares of FedEx in a report on Monday, January 8th. Finally, Bank of America reiterated a “buy” rating and issued a $315.00 target price on shares of FedEx in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $281.51.

FedEx stock traded down $6.78 during trading hours on Friday, reaching $234.29. 1,445,894 shares of the company were exchanged, compared to its average volume of 2,130,503. The stock has a market capitalization of $64,580.14, a P/E ratio of 19.05, a PEG ratio of 1.25 and a beta of 1.38. The company has a quick ratio of 1.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. FedEx has a 12 month low of $182.89 and a 12 month high of $274.66.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. The firm had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 earnings per share. sell-side analysts anticipate that FedEx will post 15.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 12th were given a dividend of $0.50 per share. The ex-dividend date was Friday, March 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. FedEx’s payout ratio is currently 16.26%.

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FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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