Capital Research Global Investors Purchases Shares of 518,014 FedEx Co. (NYSE:FDX)

Capital Research Global Investors acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 518,014 shares of the shipping service provider’s stock, valued at approximately $145,733,000.

A number of other hedge funds have also made changes to their positions in the business. Curi RMB Capital LLC grew its holdings in shares of FedEx by 1.3% during the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after purchasing an additional 47 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in FedEx by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,192,801 shares of the shipping service provider’s stock worth $616,892,000 after buying an additional 19,795 shares during the last quarter. Forum Financial Management LP increased its position in FedEx by 28.3% during the fourth quarter. Forum Financial Management LP now owns 3,435 shares of the shipping service provider’s stock worth $967,000 after buying an additional 758 shares during the period. Capital International Ltd. CA lifted its stake in FedEx by 1.5% in the fourth quarter. Capital International Ltd. CA now owns 28,974 shares of the shipping service provider’s stock valued at $8,151,000 after buying an additional 427 shares during the last quarter. Finally, Cadence Bank boosted its holdings in shares of FedEx by 1.4% in the fourth quarter. Cadence Bank now owns 32,279 shares of the shipping service provider’s stock valued at $9,081,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FDX has been the topic of several research reports. TD Cowen lowered their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and dropped their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Cfra Research raised FedEx to a “hold” rating in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. Finally, Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.63.

FedEx Price Performance

NYSE:FDX opened at $207.45 on Monday. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The company has a 50-day moving average of $239.05 and a 200-day moving average of $263.62. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the company earned $3.86 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. FedEx’s dividend payout ratio is currently 34.63%.

About FedEx

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.