FedEx Co. (NYSE:FDX) Shares Purchased by Payden & Rygel

Payden & Rygel raised its position in FedEx Co. (NYSE:FDX) by 806.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 58,900 shares of the shipping service provider’s stock after acquiring an additional 52,400 shares during the quarter. FedEx makes up about 1.4% of Payden & Rygel’s holdings, making the stock its 29th largest holding. Payden & Rygel’s holdings in FedEx were worth $16,570,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after purchasing an additional 56,236 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. boosted its stake in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Norges Bank acquired a new position in FedEx during the fourth quarter worth $807,352,000. Finally, Mawer Investment Management Ltd. raised its position in FedEx by 5.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider’s stock worth $664,447,000 after acquiring an additional 130,044 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FDX shares. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Raymond James decreased their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and lowered their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated 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 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. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of FDX stock opened at $209.90 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a one year low of $203.90 and a one year high of $313.84. The company has a 50 day moving average price of $252.45 and a 200 day moving average price of $269.15.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the business posted $3.86 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s payout ratio is currently 34.63%.

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.