Capital Research Global Investors purchased a new position in shares of FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 518,014 shares of the shipping service provider's stock, valued at approximately $145,733,000. Capital Research Global Investors owned approximately 0.22% of FedEx at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. 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 last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter valued at $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx in the 4th quarter worth about $28,000. Institutional investors own 84.47% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on FDX. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Citigroup cut their price target on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and dropped their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Raymond James reduced their price target on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $297.71.
Check Out Our Latest Report on FedEx
Insider Activity
In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by corporate insiders.
FedEx Trading Down 2.0 %
NYSE FDX traded down $4.24 on Friday, hitting $211.45. 1,327,976 shares of the stock were exchanged, compared to its average volume of 1,773,137. The company's 50-day moving average price is $234.59 and its two-hundred day moving average price is $262.17. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.86 earnings per share. Research analysts predict that FedEx Co. will post 19.14 EPS for the current year.
FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is currently 34.63%.
About FedEx
(
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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