FedEx Co. (NYSE:FDX) Shares Bought by Dodge & Cox

Dodge & Cox increased its position in shares of FedEx Co. (NYSE:FDX) by 5.6% in the 4th quarter, HoldingsChannel reports. The firm owned 13,889,624 shares of the shipping service provider’s stock after purchasing an additional 734,268 shares during the period. FedEx comprises approximately 2.3% of Dodge & Cox’s holdings, making the stock its 8th largest position. Dodge & Cox owned about 0.06% of FedEx worth $3,907,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $13,044,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of FedEx during the 4th quarter worth $820,000. Broyhill Asset Management acquired a new position in shares of FedEx during the 4th quarter worth $263,000. CreativeOne Wealth LLC increased its holdings in shares of FedEx by 50.8% in the 4th quarter. CreativeOne Wealth LLC now owns 3,086 shares of the shipping service provider’s stock valued at $868,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Garner Asset Management Corp lifted its stake in shares of FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.2 %

Shares of NYSE:FDX opened at $210.31 on Tuesday. The stock has a market capitalization of $50.39 billion, a P/E ratio of 13.40, a PEG ratio of 1.11 and a beta of 1.24. 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 Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The stock has a 50-day simple moving average of $243.22 and a 200-day simple moving average of $265.34.

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

FedEx Dividend Announcement

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

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was 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 filing with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research analyst reports. Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price for the company. Stephens decreased their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Barclays decreased their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets dropped their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $300.63.

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.