Capital Research Global Investors Takes $145.73 Million Position in FedEx Co. (NYSE:FDX)

Capital Research Global Investors bought a new position in shares of FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 518,014 shares of the shipping service provider's stock, valued at approximately $145,733,000. Capital Research Global Investors owned approximately 0.22% of FedEx as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in FDX. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx during the 4th quarter worth $234,028,000. Dodge & Cox boosted its stake in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. ACR Alpine Capital Research LLC raised its holdings in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after buying an additional 329,170 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after buying an additional 323,115 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.87% of the company's stock.

FedEx Price Performance

FedEx stock traded down $4.24 during mid-day trading on Friday, hitting $211.45. 1,328,116 shares of the company were exchanged, compared to its average volume of 1,776,728. 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 12-month low of $194.30 and a 12-month high of $313.84. The business's 50 day simple moving average is $233.47 and its two-hundred day simple moving average is $261.83. The company has a market capitalization of $50.66 billion, a P/E ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.61%. FedEx's dividend payout ratio (DPR) is presently 34.63%.

Analysts Set New Price Targets

Several research firms have commented on FDX. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and cut their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Cfra Research raised shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus cut their price target on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $297.71.

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.