Mawer Investment Management Ltd. increased its holdings in FedEx Co. (NYSE:FDX - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,361,808 shares of the shipping service provider's stock after purchasing an additional 130,044 shares during the period. FedEx accounts for 3.0% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 11th biggest position. Mawer Investment Management Ltd. owned about 0.98% of FedEx worth $664,447,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC lifted its holdings in shares of FedEx by 46.8% during the 4th quarter. RWA Wealth Partners LLC now owns 81,033 shares of the shipping service provider's stock worth $22,797,000 after acquiring an additional 25,817 shares during the period. Summit Securities Group LLC acquired a new position in FedEx during the fourth quarter worth approximately $338,000. Schroder Investment Management Group raised its stake in FedEx by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 59,526 shares of the shipping service provider's stock worth $16,746,000 after purchasing an additional 169 shares during the period. Allianz SE acquired a new position in shares of FedEx in the 4th quarter valued at $18,342,000. Finally, Cambridge Financial Group Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at $7,400,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
FedEx Stock Up 1.4 %
Shares of FedEx stock traded up $3.47 during trading on Wednesday, reaching $245.45. The company had a trading volume of 984,888 shares, compared to its average volume of 1,737,087. The company has a market cap of $58.81 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The firm's fifty day moving average is $255.30 and its 200-day moving average is $270.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.86 EPS. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.
FedEx Dividend Announcement
The firm also recently disclosed 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 2.25%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio is presently 34.63%.
Analyst Ratings Changes
Several brokerages recently weighed in on FDX. Bank of America cut their target price on FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Barclays reduced their price objective on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and dropped their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $302.71.
View Our Latest Stock Report on FDX
Insider Buying and Selling at FedEx
In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at $30,984,589.98. This trade represents a 2.25 % 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. Insiders sold a total of 12,711 shares of company stock worth $3,312,693 over the last 90 days. Insiders own 8.87% of the company's stock.
FedEx Profile
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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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