FedEx Co. (NYSE:FDX) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,798,797 shares of the shipping service provider’s stock after purchasing an additional 109,006 shares during the quarter. Geode Capital Management LLC’s holdings in FedEx were worth $1,350,686,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. bought a new position in FedEx in the fourth quarter worth about $28,000. City Holding Co. acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the fourth quarter valued at approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was 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 directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group reduced their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Barclays reduced their target price on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Truist Financial initiated coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $302.71.

FedEx Stock Performance

Shares of NYSE FDX opened at $241.86 on Wednesday. The stock’s fifty day simple moving average is $255.30 and its 200 day simple moving average is $270.28. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the business posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

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.