Peapack Gladstone Financial Corp Buys 239 Shares of FedEx Co. (NYSE:FDX)

Peapack Gladstone Financial Corp boosted its stake in FedEx Co. (NYSE:FDX) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 56,169 shares of the shipping service provider’s stock after acquiring an additional 239 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in FedEx were worth $15,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the period. Geode Capital Management LLC lifted its stake in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares in the last quarter. Franklin Resources Inc. boosted its holdings in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the period. Norges Bank purchased a new position in shares of FedEx during the 4th quarter valued at $807,352,000. Finally, Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 5.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider’s stock worth $664,447,000 after purchasing an additional 130,044 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $209.90 on Friday. FedEx Co. has a 12-month low of $203.90 and a 12-month high of $313.84. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 50 day moving average of $252.45 and a 200 day moving average of $268.95.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.86 EPS. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. FedEx’s payout ratio is currently 34.63%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s 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 completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the subject of several research analyst reports. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and dropped their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

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.