FedEx Co. (NYSE:FDX) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in FedEx Co. (NYSE:FDX - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 384,292 shares of the shipping service provider's stock after purchasing an additional 13,395 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of FedEx worth $108,112,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Fortitude Family Office LLC boosted its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after acquiring an additional 52 shares during the period. 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 position in shares of FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co purchased a new position in FedEx in the 4th quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the 4th quarter valued at about $28,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FDX stock traded down $0.90 during trading on Friday, hitting $205.50. 787,007 shares of the company traded hands, compared to its average volume of 1,767,511. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a market cap of $49.24 billion, a PE ratio of 13.08, a P/E/G ratio of 1.11 and a beta of 1.24. The stock's 50-day simple moving average is $244.94 and its 200 day simple moving average is $266.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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FedEx (NYSE:FDX - Get Free Report) last posted its 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 analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 earnings per share. The business's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the 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 completion of the transaction, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction dated 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 $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FDX. BMO Capital Markets decreased their price target on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and lowered their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Raymond James lowered their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They issued a "buy" rating and a $305.00 price target for the company. Finally, Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $300.63.

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.