Payden & Rygel Has $16.57 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Payden & Rygel grew its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 806.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,900 shares of the shipping service provider's stock after buying an additional 52,400 shares during the period. FedEx accounts for 1.4% of Payden & Rygel's investment portfolio, making the stock its 29th biggest position. Payden & Rygel's holdings in FedEx were worth $16,570,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. bLong Financial LLC purchased a new position in shares of FedEx in the 4th quarter worth $391,000. Virtu Financial LLC purchased a new stake in FedEx during the third quarter worth approximately $3,405,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the 4th quarter valued at about $461,000. Wedmont Private Capital boosted its holdings in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock worth $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $26,855,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Cfra Research upgraded FedEx to a "hold" rating in a research note on Thursday, March 20th. BNP Paribas upgraded FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They set a "buy" rating and a $337.00 target price for the company. Finally, Barclays dropped their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $300.63.

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Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was 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. The trade was a 20.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Trading Down 4.7 %

FDX stock traded down $10.24 during mid-day trading on Thursday, reaching $207.70. 1,518,088 shares of the stock traded hands, compared to its average volume of 1,769,697. The stock's fifty day moving average is $245.77 and its 200-day moving average is $266.56. The company has a market cap of $49.77 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio (DPR) 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.