FedEx Co. (NYSE:FDX) Shares Purchased by Tobam

Tobam grew its position in FedEx Co. (NYSE:FDX - Free Report) by 522.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,966 shares of the shipping service provider's stock after buying an additional 1,650 shares during the quarter. Tobam's holdings in FedEx were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter valued at $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at $234,028,000. Dodge & Cox grew its stake in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after buying an additional 734,268 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after buying an additional 542,605 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of FedEx in the fourth quarter valued at $145,733,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX traded up $2.14 during midday trading on Monday, reaching $226.52. 1,902,370 shares of the stock were exchanged, compared to its average volume of 1,854,289. The business's 50-day moving average price is $217.40 and its 200 day moving average price is $246.05. 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 twelve month low of $194.30 and a twelve month high of $313.84. The company has a market capitalization of $54.27 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 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 quarter last year, the firm posted $3.86 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is 36.39%.

Insider Transactions at FedEx

In other 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 transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was 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 accessible through this link. Insiders own 8.87% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FDX. Bank of America decreased their target price on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Sanford C. Bernstein decreased their target price on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a report on Friday. Barclays decreased their target price on FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. Finally, BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned 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 has a consensus rating of "Moderate Buy" and a consensus target price 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.