New Vernon Investment Management LLC Purchases 19,822 Shares of FedEx Co. (NYSE:FDX)

New Vernon Investment Management LLC boosted its holdings in FedEx Co. (NYSE:FDX - Free Report) by 1,238.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,422 shares of the shipping service provider's stock after acquiring an additional 19,822 shares during the quarter. FedEx accounts for about 3.6% of New Vernon Investment Management LLC's investment portfolio, making the stock its 9th biggest position. New Vernon Investment Management LLC's holdings in FedEx were worth $6,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in FedEx by 144.4% in the fourth 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 period. Transce3nd LLC acquired a new position in FedEx in the fourth quarter valued at about $26,000. Peoples Financial Services CORP. acquired a new position in FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new position in FedEx in the fourth quarter valued at about $28,000. Institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial reduced their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday. Barclays reduced their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Bank of America reduced their price target on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Cfra Research raised shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Finally, Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and decreased their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $297.71.

FedEx Stock Down 0.0 %

Shares of NYSE:FDX traded down $0.08 during midday trading on Monday, reaching $211.48. The company had a trading volume of 1,360,796 shares, compared to its average volume of 1,778,336. 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 business's 50 day moving average price is $233.47 and its 200 day moving average price is $261.79. The stock has a market cap of $50.67 billion, a PE ratio of 13.48, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results 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 company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.86 EPS. Research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is presently 34.63%.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.87% of the company's stock.

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.