Brandywine Global Investment Management LLC boosted its stake in FedEx Co. (NYSE:FDX - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 486,388 shares of the shipping service provider's stock after purchasing an additional 35,188 shares during the period. FedEx makes up approximately 1.0% of Brandywine Global Investment Management LLC's holdings, making the stock its 20th largest position. Brandywine Global Investment Management LLC owned about 0.20% of FedEx worth $136,836,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Cetera Trust Company N.A increased its position in FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock valued at $2,230,000 after acquiring an additional 40 shares during the last quarter. Griffin Asset Management Inc. increased its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. lifted its stake in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after purchasing an additional 40 shares during the period. Richard P Slaughter Associates Inc boosted its holdings in shares of FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider's stock worth $2,281,000 after buying an additional 42 shares during the last quarter. Finally, WealthPlan Investment Management LLC increased its holdings in FedEx by 2.6% during the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock valued at $473,000 after buying an additional 42 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a report on Friday, March 21st. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. Citigroup reduced their target price on shares of FedEx from $347.00 to $317.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, TD Cowen lowered their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $302.71.
Check Out Our Latest Analysis on FedEx
FedEx Trading Up 1.4 %
FDX traded up $3.47 during trading hours on Wednesday, reaching $245.45. 985,356 shares of the company's stock traded hands, compared to its average volume of 1,737,093. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $255.30 and a 200 day moving average price of $270.28. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The firm has a market capitalization of $58.81 billion, a PE ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23.
FedEx (NYSE:FDX - Get Free Report) last posted 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 the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 earnings per share. As a group, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.
FedEx Announces Dividend
The company also recently declared 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. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.
Insider Activity
In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction on 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 owns 111,886 shares of the company's stock, 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. Over the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. Company insiders own 8.87% of the company's stock.
About FedEx
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Free Report)
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.
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