Brandywine Global Investment Management LLC Has $136.84 Million Stake in FedEx Co. (NYSE:FDX)

Brandywine Global Investment Management LLC lifted its stake in FedEx Co. (NYSE:FDX) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 486,388 shares of the shipping service provider’s stock after buying an additional 35,188 shares during the period. FedEx comprises 1.0% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Brandywine Global Investment Management LLC owned approximately 0.20% of FedEx worth $136,836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. acquired a new position in shares of FedEx in the fourth quarter valued at $46,000. Mawer Investment Management Ltd. lifted its holdings in shares of FedEx by 5.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider’s stock worth $664,447,000 after acquiring an additional 130,044 shares during the period. RWA Wealth Partners LLC boosted its position in shares of FedEx by 46.8% during the 4th quarter. RWA Wealth Partners LLC now owns 81,033 shares of the shipping service provider’s stock valued at $22,797,000 after acquiring an additional 25,817 shares in the last quarter. Summit Securities Group LLC bought a new stake in FedEx in the fourth quarter valued at about $338,000. Finally, Schroder Investment Management Group raised its position in FedEx by 0.3% in the fourth quarter. Schroder Investment Management Group now owns 59,526 shares of the shipping service provider’s stock worth $16,746,000 after purchasing an additional 169 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FDX. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Bank of America cut their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. TD Cowen decreased their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Cfra Research upgraded FedEx to a “hold” rating in a research report on Thursday, March 20th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

FedEx Stock Down 0.9 %

FDX stock opened at $241.75 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock 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. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The business has a 50-day moving average of $256.59 and a 200-day moving average of $270.98.

FedEx (NYSE:FDX) last issued 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the firm posted $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

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 dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s dividend payout ratio is presently 34.63%.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

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.