Royal London Asset Management Ltd. Has $25.95 Million Position in FedEx Co. (NYSE:FDX)

Royal London Asset Management Ltd. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,236 shares of the shipping service provider’s stock after purchasing an additional 1,544 shares during the period. Royal London Asset Management Ltd.’s holdings in FedEx were worth $25,949,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kazazian Asset Management LLC bought a new position in shares of FedEx during the 4th quarter valued at about $957,000. GM Advisory Group LLC lifted its stake in FedEx by 22.7% in the 4th quarter. GM Advisory Group LLC now owns 1,136 shares of the shipping service provider’s stock valued at $320,000 after acquiring an additional 210 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in FedEx in the 4th quarter valued at approximately $194,000. Xponance Inc. lifted its stake in FedEx by 2.7% in the 4th quarter. Xponance Inc. now owns 42,390 shares of the shipping service provider’s stock valued at $11,926,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in FedEx in the 4th quarter valued at approximately $1,656,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FDX shares. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday. Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group dropped their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, TD Cowen dropped 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Price Performance

Shares of FDX stock opened at $230.25 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $55.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84. The business has a fifty day simple moving average of $259.95 and a 200 day simple moving average of $272.64.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS 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 the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.86 earnings per share. On average, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. FedEx’s payout ratio is 35.18%.

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.