UniSuper Management Pty Ltd Increases Position in FedEx Co. (NYSE:FDX)

UniSuper Management Pty Ltd lifted its holdings in FedEx Co. (NYSE:FDX) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215,522 shares of the shipping service provider’s stock after purchasing an additional 3,469 shares during the period. UniSuper Management Pty Ltd owned approximately 0.09% of FedEx worth $60,633,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FDX. Raymond James Financial Inc. acquired a new stake in FedEx in the fourth quarter valued at $234,028,000. ACR Alpine Capital Research LLC increased its position in FedEx by 62.9% during 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 purchasing an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its stake 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 worth $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. boosted its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.1 %

Shares of FDX opened at $243.78 on Thursday. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The stock has a 50-day moving average price of $257.92 and a 200 day moving average price of $271.55. 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 company has a market capitalization of $58.72 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the company earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. 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. Stockholders 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 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 34.63%.

Insider Activity

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction 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 completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FDX shares. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 price target on the stock. JPMorgan Chase & Co. cut their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company 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.