FedEx Co. (NYSE:FDX) Position Lowered by Edgar Lomax Co. VA

Edgar Lomax Co. VA lowered its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,530 shares of the shipping service provider's stock after selling 5,445 shares during the period. FedEx comprises 5.1% of Edgar Lomax Co. VA's holdings, making the stock its largest holding. Edgar Lomax Co. VA owned about 0.12% of FedEx worth $79,203,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $234,028,000. Dodge & Cox grew its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. ACR Alpine Capital Research LLC increased its position in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in FedEx by 8.1% in the fourth 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 last quarter. Institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm'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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. TD Cowen dropped their target price on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and reduced their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and cut their target price for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $297.71.

FedEx Stock Up 1.1 %

NYSE FDX traded up $2.35 during mid-day trading on Thursday, reaching $213.39. The stock had a trading volume of 431,574 shares, compared to its average volume of 1,772,028. The stock has a market cap of $51.13 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a fifty day moving average price of $235.63 and a 200 day moving average price of $262.48. FedEx Co. has a 1 year low of $194.30 and a 1 year 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 released its quarterly 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.59%. FedEx's dividend payout ratio is currently 34.63%.

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.