Norinchukin Bank The Acquires 1,220 Shares of FedEx Co. (NYSE:FDX)

Norinchukin Bank The grew its position in FedEx Co. (NYSE:FDX - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,962 shares of the shipping service provider's stock after purchasing an additional 1,220 shares during the quarter. Norinchukin Bank The's holdings in FedEx were worth $3,084,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the period. Dodge & Cox lifted its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the period. Franklin Resources Inc. boosted its position in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares during the period. Finally, Invesco Ltd. grew its stake in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on 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 approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FDX. Loop Capital downgraded shares of 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 report on Friday, March 21st. TD Cowen reduced their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Truist Financial lowered their price target on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price objective on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, BNP Paribas upgraded FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $297.71.

FedEx Trading Up 2.2 %

FedEx stock traded up $4.70 during mid-day trading on Thursday, hitting $215.74. The stock had a trading volume of 1,132,303 shares, compared to its average volume of 1,774,604. The stock has a market capitalization of $51.69 billion, a PE ratio of 13.75, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $235.63 and a two-hundred day simple moving average of $262.48.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

FedEx 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.