FedEx Co. (NYSE:FDX) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its holdings in shares of FedEx Co. (NYSE:FDX) by 27.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 164,433 shares of the shipping service provider’s stock after buying an additional 35,914 shares during the quarter. Korea Investment CORP’s holdings in FedEx were worth $46,260,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Trust Company N.A increased its stake in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after acquiring an additional 40 shares in the last quarter. Aviso Financial Inc. increased its stake in shares of FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after acquiring an additional 40 shares during the period. Richard P Slaughter Associates Inc raised its holdings in FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after purchasing an additional 42 shares in the last quarter. Finally, WealthPlan Investment Management LLC lifted its position in FedEx by 2.6% in the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after purchasing an additional 42 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 0.2 %

NYSE FDX opened at $244.26 on Friday. The company has a market capitalization of $58.83 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm’s fifty day simple moving average is $257.26 and its 200-day simple moving average is $271.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for 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 company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $3.86 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal 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 $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock worth $3,312,693 over the last three months. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on FDX shares. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Stephens dropped their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and cut their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, TD Cowen cut their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $302.71.

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.