Royal London Asset Management Ltd. boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,236 shares of the shipping service provider's stock after acquiring an additional 1,544 shares during the period. Royal London Asset Management Ltd.'s holdings in FedEx were worth $25,949,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its position in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider's stock worth $360,000 after purchasing an additional 38 shares during the last quarter. Cetera Trust Company N.A raised its holdings in shares of FedEx by 0.5% in the fourth 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 last quarter. Griffin Asset Management Inc. lifted its position in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after acquiring an additional 40 shares in the last quarter. Aviso Financial Inc. boosted its stake in shares of FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after acquiring an additional 40 shares during the last quarter. Finally, Richard P Slaughter Associates Inc increased its position in FedEx by 0.5% during the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider's stock worth $2,281,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Stock Down 0.5 %
Shares of NYSE FDX traded down $1.13 during midday trading on Tuesday, reaching $241.19. 2,668,902 shares of the company's stock were exchanged, compared to its average volume of 1,689,659. 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 Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The business's fifty day moving average price is $258.58 and its two-hundred day moving average price is $271.75. The stock has a market capitalization of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.
FedEx (NYSE:FDX - Get Free Report) last posted 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 business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.86 earnings per share. Analysts forecast that FedEx Co. will post 19.14 EPS for the current year.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.
Insider Transactions at FedEx
In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane acquired 333 shares of the business's stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company's stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on FDX shares. Sanford C. Bernstein lowered FedEx from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Citigroup dropped their price objective on shares of FedEx from $347.00 to $317.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. BMO Capital Markets decreased their target price 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. Wells Fargo & Company dropped 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 report on Friday. Finally, Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and decreased their price target for the company from $283.00 to $221.00 in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average price target of $300.60.
Read Our Latest Research Report on FDX
FedEx Profile
(
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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