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

AIA Group Ltd cut its holdings in FedEx Co. (NYSE:FDX) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,604 shares of the shipping service provider’s stock after selling 1,525 shares during the period. AIA Group Ltd’s holdings in FedEx were worth $3,827,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. bLong Financial LLC purchased a new stake in FedEx during the fourth quarter worth approximately $391,000. Virtu Financial LLC purchased a new stake in shares of FedEx during the 3rd quarter worth approximately $3,405,000. Lodestone Wealth Management LLC acquired a new stake in FedEx during the 4th quarter worth $461,000. Wedmont Private Capital lifted its position in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new position in FedEx in the fourth quarter valued at $26,855,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FDX shares. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Truist Financial started coverage on FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. TD Cowen decreased their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on 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 owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $241.75 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average price of $256.59 and a two-hundred day moving average price of $270.89. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 for 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%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business earned $3.86 earnings per share. As a group, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

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.