Capital International Investors Has $2.61 Billion Position in FedEx Co. (NYSE:FDX)

Capital International Investors lessened its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,260,479 shares of the shipping service provider's stock after selling 609,783 shares during the period. Capital International Investors owned approximately 3.84% of FedEx worth $2,605,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx in the 4th quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on FDX. BMO Capital Markets reduced their target price on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Raymond James decreased their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Piper Sandler lowered FedEx to a "neutral" rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target for the company. Finally, Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $298.96.

FedEx Price Performance

FDX traded up $5.18 during trading on Wednesday, reaching $211.75. The stock had a trading volume of 596,867 shares, compared to its average volume of 1,771,949. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The firm has a market capitalization of $50.74 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The stock has a 50 day moving average of $236.77 and a two-hundred day moving average of $262.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last released 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 return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. FedEx's revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by company insiders.

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.