Resona Asset Management Co. Ltd. Invests $18.70 Million in FedEx Co. (NYSE:FDX)

Resona Asset Management Co. Ltd. acquired a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 66,512 shares of the shipping service provider's stock, valued at approximately $18,703,000.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. bought a new stake in FedEx in the 4th quarter worth about $28,000. Kentucky Trust Co purchased a new position in FedEx in the 4th quarter worth about $28,000. Finally, Activest Wealth Management bought a new position in FedEx during the 4th quarter valued at about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of FDX stock traded down $4.01 on Friday, reaching $202.39. The company's stock had a trading volume of 608,597 shares, compared to its average volume of 1,766,880. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a market capitalization of $48.49 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The stock's fifty day simple moving average is $244.94 and its 200-day simple moving average is $266.13. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 earnings per share. The company's quarterly revenue was up 1.9% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is presently 34.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FDX shares. Wells Fargo & Company reduced their price target on shares of FedEx from $275.00 to $260.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Stephens cut their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their target price on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. BNP Paribas raised shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Finally, Oppenheimer reissued a "market perform" rating on shares of FedEx in a report on Friday, March 21st. 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 currently has a consensus rating of "Moderate Buy" and an average target price of $300.63.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction 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 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 position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

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.