Tower Research Capital LLC TRC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Tower Research Capital LLC TRC grew its holdings in FedEx Co. (NYSE:FDX - Free Report) by 48.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,810 shares of the shipping service provider's stock after buying an additional 3,192 shares during the period. Tower Research Capital LLC TRC's holdings in FedEx were worth $2,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FDX. Norges Bank purchased a new stake in FedEx during the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. bought a new stake in FedEx in the fourth quarter worth $234,028,000. Dodge & Cox boosted its stake in 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 period. Capital Research Global Investors bought a new position in FedEx during the fourth quarter valued at $145,733,000. Finally, ACR Alpine Capital Research LLC raised its stake in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after acquiring an additional 329,170 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on FDX shares. Raymond James reduced their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a "buy" rating and a $305.00 target price on the stock. Bank of America lowered their price target on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Citigroup lowered their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.63.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the company'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 directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.87% of the company's stock.

FedEx Stock Down 1.1 %

Shares of FDX stock opened at $205.21 on Tuesday. 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 twelve month low of $194.30 and a twelve month high of $313.84. The stock has a 50 day moving average of $237.90 and a 200 day moving average of $263.23. The stock has a market cap of $49.17 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.11 and a beta of 1.24.

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. As a group, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

FedEx Company 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.

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