FedEx Co. (NYSE:FDX) Shares Bought by AIA Group Ltd

AIA Group Ltd increased its position in FedEx Co. (NYSE:FDX - Free Report) by 142.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,442 shares of the shipping service provider's stock after buying an additional 7,300 shares during the period. AIA Group Ltd's holdings in FedEx were worth $3,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of FedEx by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider's stock worth $4,961,716,000 after purchasing an additional 59,161 shares in the last quarter. FMR LLC lifted its position in FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider's stock valued at $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley boosted its stake in FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider's stock valued at $591,124,000 after purchasing an additional 559,607 shares during the last quarter. Invesco Ltd. raised its stake in shares of FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider's stock worth $796,042,000 after purchasing an additional 360,680 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of FedEx by 2.6% in the third quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider's stock valued at $624,180,000 after purchasing an additional 60,201 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FedEx stock traded up $0.30 during midday trading on Thursday, reaching $263.37. 1,045,982 shares of the stock were exchanged, compared to its average volume of 2,085,661. The company's fifty day moving average is $258.74 and its 200-day moving average is $254.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The firm has a market cap of $64.81 billion, a PE ratio of 15.19, a PEG ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analysts' expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 earnings per share. On average, sell-side analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its Board of Directors has approved a share buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, March 8th. FedEx's dividend payout ratio (DPR) is 29.07%.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 6,145 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 over the last three months. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FDX shares. Melius upgraded FedEx from a "hold" rating to a "buy" rating in a research note on Monday, January 8th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research note on Friday, March 22nd. Melius Research upgraded FedEx from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a report on Monday, January 8th. Barclays boosted their price objective on FedEx from $310.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, March 22nd. Finally, BNP Paribas reissued an "underperform" rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus price target of $301.33.

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.