Brandywine Global Investment Management LLC Buys 35,188 Shares of FedEx Co. (NYSE:FDX)

Brandywine Global Investment Management LLC grew its stake in shares of FedEx Co. (NYSE:FDX) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 486,388 shares of the shipping service provider’s stock after acquiring an additional 35,188 shares during the quarter. FedEx comprises about 1.0% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. Brandywine Global Investment Management LLC’s holdings in FedEx were worth $136,836,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. United Bank acquired a new stake in FedEx during the third quarter worth about $615,000. Townsquare Capital LLC increased its stake in FedEx by 19.5% in the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock valued at $483,000 after acquiring an additional 288 shares during the last quarter. Bridgewater Associates LP raised its position in FedEx by 38.8% during the third quarter. Bridgewater Associates LP now owns 25,022 shares of the shipping service provider’s stock valued at $6,848,000 after purchasing an additional 6,994 shares in the last quarter. Fiduciary Trust Co lifted its stake in FedEx by 45.6% during the third quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock worth $902,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of FedEx by 117.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock valued at $21,343,000 after purchasing an additional 42,034 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $241.75 on Friday. The firm has a market capitalization of $57.92 billion, a P/E ratio of 15.41, 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 company has a fifty day moving average of $256.59 and a 200-day moving average of $270.98. 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 (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the company earned $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target 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. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction 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 $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last ninety days. Corporate insiders own 8.87% of the company’s stock.

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.