FedEx Co. (NYSE:FDX) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in shares of FedEx Co. (NYSE:FDX) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 384,292 shares of the shipping service provider’s stock after purchasing an additional 13,395 shares during the quarter. Russell Investments Group Ltd.’s holdings in FedEx were worth $108,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. bLong Financial LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $391,000. Virtu Financial LLC acquired a new stake in FedEx during the third quarter valued at $3,405,000. Lodestone Wealth Management LLC purchased a new position in FedEx in the fourth quarter valued at $461,000. Wedmont Private Capital boosted its stake in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at about $26,855,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 2.8 %

NYSE FDX opened at $209.90 on Friday. 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 stock has a market capitalization of $50.29 billion, a P/E ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The firm’s 50-day moving average is $252.45 and its two-hundred day moving average is $268.95. FedEx Co. has a 12 month low of $203.90 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). The company 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%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 yield of 2.63%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 in the last three months. 8.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent analyst reports. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and lowered their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Truist Financial started coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, UBS Group cut their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.