World Investment Advisors Raises Stock Holdings in FedEx Co. (NYSE:FDX)

World Investment Advisors lifted its stake in FedEx Co. (NYSE:FDX) by 7.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,632 shares of the shipping service provider’s stock after purchasing an additional 796 shares during the quarter. World Investment Advisors’ holdings in FedEx were worth $3,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in FedEx during the 4th quarter worth approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in shares of FedEx in the fourth quarter worth about $234,028,000. ACR Alpine Capital Research LLC grew its stake in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares in the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after acquiring an additional 323,115 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC increased its position in shares of FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $209.90 on Friday. The stock has a 50-day moving average of $252.45 and a two-hundred day moving average of $269.15. 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 stock has a market cap of $50.29 billion, a P/E ratio of 13.38, a P/E/G 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.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the prior year, the company earned $3.86 EPS. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

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

Insider Buying and Selling at FedEx

In related 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 directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and lowered their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Finally, Citigroup dropped their target price 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 analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

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.