215,122 Shares in FedEx Co. (NYSE:FDX) Acquired by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 215,122 shares of the shipping service provider's stock, valued at approximately $60,520,000. Marshall Wace LLP owned 0.09% of FedEx as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Regal Investment Advisors LLC grew its stake in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after buying an additional 38 shares during the period. Cetera Trust Company N.A lifted its holdings in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in FedEx by 0.4% during the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock worth $2,916,000 after buying an additional 40 shares during the last quarter. Aviso Financial Inc. lifted its stake in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after buying an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp grew its holdings in shares of FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after buying an additional 41 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of FedEx 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 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 8.87% of the company's stock.

FedEx Stock Up 2.3 %

FedEx stock traded up $4.69 during trading hours on Wednesday, hitting $211.26. The stock had a trading volume of 526,750 shares, compared to its average volume of 1,771,577. The stock's 50-day moving average price is $236.77 and its 200-day moving average price is $262.84. FedEx Co. has a 12-month low of $194.30 and a 12-month 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 stock has a market capitalization of $50.62 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last announced 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). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.86 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.38 dividend. 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 is 34.63%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price for the company. TD Cowen reduced their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. UBS Group reduced their price target on shares of FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $298.96.

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.