FedEx Co. (NYSE:FDX) Shares Sold by AIA Group Ltd

AIA Group Ltd reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,604 shares of the shipping service provider’s stock after selling 1,525 shares during the period. AIA Group Ltd’s holdings in FedEx were worth $3,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in FedEx during the 4th quarter worth approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in shares of FedEx during the fourth quarter valued at $234,028,000. ACR Alpine Capital Research LLC increased 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 acquiring an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC raised its stake in FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after acquiring an additional 321,141 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position 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 worth $1,042,050,000 after acquiring an additional 314,380 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Down 0.9 %

Shares of NYSE FDX opened at $241.75 on Monday. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The company has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a 50 day simple moving average of $256.59 and a 200-day simple moving average of $270.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business posted $3.86 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts predict 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. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s payout ratio is presently 34.63%.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and dropped their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and decreased their target price for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

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.