Factory Mutual Insurance Co. Has $21.11 Million Stock Position in FedEx Co. (NYSE:FDX)

Factory Mutual Insurance Co. boosted its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 55.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,600 shares of the shipping service provider's stock after purchasing an additional 31,000 shares during the period. Factory Mutual Insurance Co.'s holdings in FedEx were worth $21,111,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. bLong Financial LLC bought a new position in FedEx during the 4th quarter valued at $391,000. Lodestone Wealth Management LLC bought a new position in FedEx during the 4th quarter valued at $461,000. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of FedEx by 57.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider's stock worth $2,965,000 after buying an additional 3,867 shares during the last quarter. NBC Securities Inc. bought a new position in shares of FedEx in the 1st quarter worth about $147,000. Finally, Vontobel Holding Ltd. lifted its position in shares of FedEx by 4.6% in the 4th quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider's stock worth $8,475,000 after buying an additional 1,325 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 0.5%

Shares of FedEx stock traded down $1.05 during trading on Friday, hitting $223.95. The stock had a trading volume of 1,888,309 shares, compared to its average volume of 1,854,095. The stock has a 50 day simple moving average of $216.82 and a 200 day simple moving average of $246.98. The company has a market capitalization of $53.66 billion, a PE ratio of 14.27, a P/E/G ratio of 1.11 and a beta of 1.35. 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 Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

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 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 analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $3.86 earnings per share. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. FedEx's payout ratio is presently 36.39%.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.87% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Sanford C. Bernstein reduced their price target on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday. Citigroup cut their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their price objective on shares of FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $292.54.

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.