Legal & General Group Plc lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,463,640 shares of the shipping service provider's stock after selling 471,304 shares during the quarter. Legal & General Group Plc owned about 0.61% of FedEx worth $411,766,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in FDX. Norges Bank acquired a new position in FedEx in the fourth quarter valued at $807,352,000. Raymond James Financial Inc. purchased a new position in shares of FedEx in the 4th quarter worth about $234,028,000. ACR Alpine Capital Research LLC lifted its stake in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after purchasing an additional 329,170 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the period. Finally, Bryn Mawr Capital Management LLC increased its position in FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock worth $90,751,000 after purchasing an additional 321,141 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Stock Performance
Shares of FDX traded up $1.06 during mid-day trading on Friday, hitting $207.46. The stock had a trading volume of 2,196,102 shares, compared to its average volume of 1,778,362. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. 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 company has a market cap of $49.71 billion, a PE ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The company's fifty day simple moving average is $244.07 and its two-hundred day simple moving average is $265.74.
FedEx (NYSE:FDX - Get Free Report) last released 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 during 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 business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.86 EPS. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.66%. FedEx's dividend payout ratio (DPR) is 34.63%.
Insiders Place Their Bets
In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the 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 sale, the director now directly owns 8,904 shares of the company's stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The shares were 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 directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on FDX. Stephens dropped their price objective on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Bank of America decreased their price target on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company reduced their price objective on FedEx from $275.00 to $260.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, Truist Financial began coverage on FedEx in a research report on Thursday, March 13th. They set a "buy" rating and a $305.00 price target on the stock. 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 issued a strong buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $300.63.
Get Our Latest Stock Analysis on FDX
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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