Geode Capital Management LLC Boosts Stock Position in FedEx Co. (NYSE:FDX)

Geode Capital Management LLC grew its position in FedEx Co. (NYSE:FDX - Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,798,797 shares of the shipping service provider's stock after acquiring an additional 109,006 shares during the quarter. Geode Capital Management LLC owned about 1.99% of FedEx worth $1,350,686,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FDX. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new position in FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on FDX. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and reduced their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. BMO Capital Markets cut their price target on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Finally, Oppenheimer reissued a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $302.71.

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Insider Buying and Selling

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 transaction 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 this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company's stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 12,711 shares of company stock valued at $3,312,693. Company insiders own 8.87% of the company's stock.

FedEx Trading Down 2.8 %

FedEx stock traded down $5.96 during midday trading on Friday, reaching $209.90. The stock had a trading volume of 3,618,525 shares, compared to its average volume of 1,754,835. The stock has a market capitalization of $50.29 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock's 50-day simple moving average is $252.45 and its 200 day simple moving average is $268.95. FedEx Co. has a twelve month low of $203.90 and a twelve month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued 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). 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 firm posted $3.86 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.63%. FedEx's payout ratio is 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.