Gamco Investors INC. ET AL Boosts Stake in FedEx Co. (NYSE:FDX)

Gamco Investors INC. ET AL raised its position in FedEx Co. (NYSE:FDX) by 103.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,711 shares of the shipping service provider’s stock after buying an additional 868 shares during the quarter. Gamco Investors INC. ET AL’s holdings in FedEx were worth $481,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Cetera Trust Company N.A increased its position in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. grew its stake in FedEx by 0.4% during the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. Aviso Financial Inc. increased its position in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after acquiring an additional 40 shares in the last quarter. Garner Asset Management Corp raised its stake in shares of FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after acquiring an additional 41 shares during the period. Finally, Richard P Slaughter Associates Inc lifted its holdings in shares of FedEx by 0.5% during the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after acquiring an additional 42 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company cut their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Bank of America dropped their target price on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Finally, Truist Financial initiated coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.63.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the business’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 sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is currently owned by insiders.

FedEx Stock Up 1.9 %

Shares of FedEx stock opened at $207.45 on Friday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a market capitalization of $49.71 billion, a P/E ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The business’s fifty day moving average price is $239.05 and its two-hundred day moving average price is $263.61. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during 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%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.86 EPS. As a group, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid 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 2.66%. FedEx’s dividend payout ratio is presently 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.