Mitsubishi UFJ Trust & Banking Corp Has $50.74 Million Stock Position in FedEx Co. (NYSE:FDX)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,372 shares of the shipping service provider's stock after selling 2,330 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of FedEx worth $50,744,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Trust Company N.A raised its holdings in 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 acquiring an additional 40 shares during the period. Griffin Asset Management Inc. boosted its stake in FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares during the period. Aviso Financial Inc. increased its position in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after buying an additional 40 shares during the period. Richard P Slaughter Associates Inc lifted its holdings in shares of FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider's stock worth $2,281,000 after buying an additional 42 shares during the last quarter. Finally, WealthPlan Investment Management LLC grew its stake in shares of FedEx by 2.6% in the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock worth $473,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

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Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the firm's 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 transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by insiders.

FedEx Trading Down 0.9 %

FDX traded down $2.17 during mid-day trading on Friday, reaching $241.75. The stock had a trading volume of 1,679,093 shares, compared to its average volume of 1,744,375. The firm's fifty day simple moving average is $256.59 and its two-hundred day simple moving average is $270.98. The stock has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. 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 posted its quarterly earnings results 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the business earned $3.86 EPS. FedEx's revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx's dividend payout ratio is currently 34.63%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company decreased their target price on shares of FedEx from $275.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Stephens dropped their price target 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. Raymond James decreased their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Truist Financial initiated coverage on FedEx in a report on Thursday, March 13th. They issued a "buy" rating and a $305.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $302.71.

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.