Meiji Yasuda Asset Management Co Ltd. Sells 8,332 Shares of FedEx Co. (NYSE:FDX)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 66.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,251 shares of the shipping service provider’s stock after selling 8,332 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in FedEx were worth $1,196,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. bLong Financial LLC purchased a new position in FedEx during the 4th quarter valued at $391,000. Virtu Financial LLC purchased a new stake in shares of FedEx during the third quarter valued at $3,405,000. Lodestone Wealth Management LLC bought a new position in shares of FedEx in the fourth quarter worth about $461,000. Wedmont Private Capital increased its stake in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the period. Finally, GFS Advisors LLC bought a new stake in FedEx during the 4th quarter valued at about $26,855,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.1 %

Shares of FedEx stock opened at $243.78 on Thursday. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The firm’s 50 day simple moving average is $257.92 and its two-hundred day simple moving average is $271.55. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $58.72 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its earnings results 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 firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $3.86 EPS. Analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus dropped their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. BMO Capital Markets decreased their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Finally, Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.60.

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.