BLI Banque de Luxembourg Investments Purchases New Position in FedEx Co. (NYSE:FDX)

BLI Banque de Luxembourg Investments acquired a new stake in FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 39,890 shares of the shipping service provider's stock, valued at approximately $11,191,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

NYSE FDX traded down $3.55 on Tuesday, reaching $213.44. 1,102,516 shares of the company's stock traded hands, compared to its average volume of 1,790,226. The stock has a 50 day moving average price of $227.04 and a 200-day moving average price of $259.09. 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 firm has a market cap of $51.14 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.86 earnings per share. Equities research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.59%. FedEx's payout ratio is presently 34.63%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FDX shares. Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Jefferies Financial Group raised 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. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Truist Financial dropped their price objective on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Bank of America reduced their target price on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average price target of $297.71.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is owned by corporate 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.