United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases New Position in FedEx Co. (NYSE:FDX)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,800 shares of the shipping service provider's stock, valued at approximately $506,000.

Several other large investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in FedEx during the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC boosted its position in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after purchasing an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC boosted its holdings in shares of FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock worth $90,751,000 after buying an additional 321,141 shares during the period. Franklin Resources Inc. raised its stake in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the period. Finally, KBC Group NV raised its position in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock valued at $96,043,000 after buying an additional 226,608 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

FedEx Stock Up 0.3 %

FedEx stock traded up $0.81 during mid-day trading on Monday, reaching $242.52. The stock had a trading volume of 454,714 shares, compared to its average volume of 1,739,418. The firm has a market capitalization of $58.11 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock's 50-day simple moving average is $256.59 and its 200-day simple moving average is $270.89. 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 fifty-two week low of $217.22 and a fifty-two week high of $313.84.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx's payout ratio is 34.63%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and reduced their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Barclays dropped their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. BMO Capital Markets reduced their price objective on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. Oppenheimer restated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, Piper Sandler cut shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $302.71.

Insider Activity

In related news, EVP John W. Dietrich acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company's stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 in the last ninety days. 8.87% of the stock is currently owned by insiders.

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.