FedEx Co. (NYSE:FDX) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in FedEx Co. (NYSE:FDX) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 358,690 shares of the shipping service provider’s stock after purchasing an additional 22,518 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in FedEx were worth $98,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in FedEx in the 4th quarter worth $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter worth about $28,000. Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in shares of FedEx in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $244.26 on Friday. The business’s 50 day moving average price is $257.26 and its 200-day moving average price is $271.36. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $58.83 billion, a PE ratio of 15.57, a P/E/G 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). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.86 EPS. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 34.63%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and lowered their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Barclays lowered their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Transactions at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the company’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 completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last ninety days. Insiders own 8.87% of the company’s stock.

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.