Royal London Asset Management Ltd. Has $25.95 Million Holdings in FedEx Co. (NYSE:FDX)

Royal London Asset Management Ltd. raised its position in FedEx Co. (NYSE:FDX) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 92,236 shares of the shipping service provider’s stock after acquiring an additional 1,544 shares during the period. Royal London Asset Management Ltd.’s holdings in FedEx were worth $25,949,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after purchasing an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock valued at $422,202,000 after purchasing an additional 49,160 shares in the last quarter. Finally, Sentry LLC lifted its holdings in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after purchasing an additional 5,404 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FDX. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Bank of America dropped their price target on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday. Stephens dropped their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday. Finally, TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.60.

FedEx Price Performance

Shares of FedEx stock opened at $230.25 on Friday. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The business’s 50-day moving average price is $259.95 and its 200-day moving average price is $272.64. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.86 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.