Triumph Capital Management Purchases Shares of 2,612 FedEx Co. (NYSE:FDX)

Triumph Capital Management purchased a new position in shares of FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,612 shares of the shipping service provider's stock, valued at approximately $735,000.

Several other large investors have also made changes to their positions in FDX. Gallo Partners LP acquired a new stake in FedEx in the 4th quarter worth approximately $1,153,000. Utah Retirement Systems grew its holdings in shares of FedEx by 0.5% during the 4th quarter. Utah Retirement Systems now owns 37,636 shares of the shipping service provider's stock worth $10,588,000 after purchasing an additional 200 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $8,292,000. Northern Trust Corp raised its stake in shares of FedEx by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider's stock valued at $663,100,000 after purchasing an additional 273,478 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in FedEx by 22.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 167,139 shares of the shipping service provider's stock worth $47,021,000 after purchasing an additional 30,569 shares during the period. Institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. Stephens dropped their price objective on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. TD Cowen lowered their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Truist Financial cut their target price on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, Stifel Nicolaus reduced their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $297.71.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Up 4.6 %

Shares of FedEx stock traded up $9.60 during trading on Friday, reaching $219.66. 2,180,047 shares of the company were exchanged, compared to its average volume of 1,788,822. The business has a 50-day moving average price of $228.72 and a 200-day moving average price of $260.00. The firm has a market capitalization of $52.63 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.11 and a beta of 1.24. 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 twelve month low of $194.30 and a twelve month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $3.86 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.51%. FedEx's dividend payout ratio is 34.63%.

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.