Korea Investment CORP Grows Stake in FedEx Co. (NYSE:FDX)

Korea Investment CORP raised its stake in FedEx Co. (NYSE:FDX - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,433 shares of the shipping service provider's stock after buying an additional 35,914 shares during the quarter. Korea Investment CORP owned approximately 0.07% of FedEx worth $46,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Fortitude Family Office LLC raised its position 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 purchasing an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in FedEx during the 4th quarter valued at about $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co purchased a new stake in FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new stake in shares of FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FDX. Wells Fargo & Company decreased their target price on FedEx from $275.00 to $260.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and lowered their price objective for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Barclays reduced their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, UBS Group reduced their price objective on shares of FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $302.71.

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Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of NYSE:FDX traded down $1.94 during trading on Tuesday, reaching $241.84. The company had a trading volume of 289,547 shares, compared to its average volume of 1,851,790. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock's fifty day moving average price is $255.97 and its 200 day moving average price is $270.59. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The firm has a market capitalization of $57.94 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx's payout ratio is currently 34.63%.

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.