Heritage Investors Management Corp Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Heritage Investors Management Corp boosted its stake in FedEx Co. (NYSE:FDX) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,322 shares of the shipping service provider’s stock after buying an additional 873 shares during the quarter. Heritage Investors Management Corp’s holdings in FedEx were worth $25,973,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in FedEx by 30.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock valued at $3,847,000 after buying an additional 3,330 shares during the last quarter. Highview Capital Management LLC DE increased its position in shares of FedEx by 10.0% during the third quarter. Highview Capital Management LLC DE now owns 4,372 shares of the shipping service provider’s stock valued at $1,197,000 after acquiring an additional 396 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx during the third quarter worth $31,000. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in FedEx by 7.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,320 shares of the shipping service provider’s stock valued at $2,277,000 after purchasing an additional 574 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FDX has been the topic of a number of recent analyst reports. Loop Capital cut FedEx from a “buy” rating to a “hold” rating and lowered their target price for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Stock Performance

NYSE FDX opened at $256.09 on Thursday. The company’s 50 day simple moving average is $269.38 and its two-hundred day simple moving average is $277.65. The stock has a market capitalization of $61.68 billion, a PE ratio of 16.32, a P/E/G ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1 year low of $239.07 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the company earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Activity at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

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.