Nomura Asset Management Co. Ltd. Buys 171 Shares of FedEx Co. (NYSE:FDX)

Nomura Asset Management Co. Ltd. lifted its stake in shares of FedEx Co. (NYSE:FDX) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,803 shares of the shipping service provider’s stock after purchasing an additional 171 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in FedEx were worth $19,919,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Norges Bank acquired a new position in FedEx during the 4th quarter worth $807,352,000. Blair William & Co. IL raised its position in shares of FedEx by 2.2% during the fourth quarter. Blair William & Co. IL now owns 27,870 shares of the shipping service provider’s stock worth $7,841,000 after acquiring an additional 593 shares during the last quarter. NEOS Investment Management LLC lifted its stake in shares of FedEx by 28.5% during the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the shipping service provider’s stock valued at $3,146,000 after acquiring an additional 2,483 shares during the period. UniSuper Management Pty Ltd boosted its holdings in FedEx by 1.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 215,522 shares of the shipping service provider’s stock valued at $60,633,000 after acquiring an additional 3,469 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in FedEx by 12.7% in the fourth quarter. WINTON GROUP Ltd now owns 15,313 shares of the shipping service provider’s stock worth $4,308,000 after purchasing an additional 1,728 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.9 %

Shares of FDX stock opened at $241.75 on Friday. The firm’s fifty day moving average price is $256.59 and its two-hundred day moving average price is $270.98. 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. The firm has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the firm posted $3.86 EPS. FedEx’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s dividend payout ratio is presently 34.63%.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value 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 represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FDX. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Barclays reduced their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Stephens reduced their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.