The Manufacturers Life Insurance Company Purchases 30,569 Shares of FedEx Co. (NYSE:FDX)

The Manufacturers Life Insurance Company grew its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,139 shares of the shipping service provider's stock after buying an additional 30,569 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of FedEx worth $47,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Optiver Holding B.V. bought a new position in FedEx in the 4th quarter valued at $39,000. Mendel Capital Management LLC grew its holdings in FedEx by 2.9% during the fourth quarter. Mendel Capital Management LLC now owns 5,401 shares of the shipping service provider's stock valued at $1,519,000 after purchasing an additional 152 shares during the period. Mission Creek Capital Partners Inc. increased its holdings in FedEx by 25.4% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,424 shares of the shipping service provider's stock worth $963,000 after acquiring an additional 694 shares during the last quarter. Aquatic Capital Management LLC bought a new position in FedEx in the 4th quarter worth approximately $22,490,000. Finally, Oxford Asset Management LLP bought a new position in shares of FedEx in the fourth quarter worth $840,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 1.2 %

Shares of FDX traded down $2.73 on Monday, hitting $216.99. 765,241 shares of the stock traded hands, compared to its average volume of 1,788,321. The company has a market capitalization of $51.99 billion, a PE ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The business has a 50 day simple moving average of $228.72 and a 200 day simple moving average of $259.81.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business 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%. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $3.86 EPS. As a group, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is currently 34.63%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FDX shares. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and decreased their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Barclays reduced their price target on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Citigroup lowered their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Two 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 company. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $297.71.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 8.87% of the stock is owned by company insiders.

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.