Mitsubishi UFJ Trust & Banking Corp Trims Position in FedEx Co. (NYSE:FDX)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in FedEx Co. (NYSE:FDX) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,372 shares of the shipping service provider’s stock after selling 2,330 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of FedEx worth $50,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. United Bank acquired a new position in shares of FedEx in the 3rd quarter valued at about $615,000. Quest Partners LLC purchased a new stake in FedEx in the 3rd quarter worth approximately $123,000. Meridian Wealth Management LLC increased its holdings in shares of FedEx by 7.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 803 shares of the shipping service provider’s stock valued at $220,000 after purchasing an additional 55 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of FedEx by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 60,345 shares of the shipping service provider’s stock valued at $16,538,000 after purchasing an additional 16,931 shares during the period. Finally, Kingsview Wealth Management LLC boosted its holdings in FedEx by 9.4% during the third quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock worth $825,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Down 0.5 %

Shares of FDX opened at $241.19 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $58.09 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company’s 50-day moving average price is $258.58 and its 200 day moving average price is $271.75. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FDX. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Bank of America reduced their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Truist Financial initiated coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Finally, Citigroup decreased their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.60.

FedEx Company 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.