Advisors Capital Management LLC Purchases 256 Shares of FedEx Co. (NYSE:FDX)

Advisors Capital Management LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,316 shares of the shipping service provider’s stock after buying an additional 256 shares during the quarter. Advisors Capital Management LLC’s holdings in FedEx were worth $652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of FedEx during the 4th quarter worth approximately $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx in the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC lifted its position in FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in FedEx by 22,317.0% during 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 acquiring an additional 321,141 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

FDX stock opened at $210.31 on Tuesday. The company’s 50-day moving average price is $243.22 and its two-hundred day moving average price is $265.34. The firm has a market cap of $50.39 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced 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 net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the business earned $3.86 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Truist Financial started coverage on shares of FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $300.63.

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.