Mitsubishi UFJ Trust & Banking Corp Lowers Position in FedEx Co. (NYSE:FDX)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in FedEx Co. (NYSE:FDX) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 180,372 shares of the shipping service provider’s stock after selling 2,330 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in FedEx were worth $50,744,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares during the period. Franklin Resources Inc. boosted its holdings in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock valued at $422,202,000 after purchasing an additional 49,160 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FDX shares. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Citigroup decreased their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and cut their price objective for the company from $300.00 to $275.00 in a research report on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday. Finally, Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.60.

FedEx Price Performance

FDX opened at $241.19 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $258.58 and its 200 day moving average price is $271.75. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The firm has a market cap of $58.09 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly 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). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.86 EPS. As a group, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.29%. FedEx’s dividend payout ratio is presently 34.63%.

FedEx 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.