Norinchukin Bank The Boosts Position in FedEx Co. (NYSE:FDX)

Norinchukin Bank The increased its position in shares of FedEx Co. (NYSE:FDX) by 12.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,962 shares of the shipping service provider’s stock after acquiring an additional 1,220 shares during the quarter. Norinchukin Bank The’s holdings in FedEx were worth $3,084,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays cut their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. BMO Capital Markets lowered their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Finally, Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This 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 at this hyperlink. Insiders own 8.87% of the company’s stock.

FedEx Stock Up 1.9 %

Shares of NYSE FDX opened at $207.45 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 stock has a market capitalization of $49.71 billion, a PE ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.24. The firm has a fifty day moving average of $239.05 and a 200-day moving average of $263.61. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 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 firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 2.66%. FedEx’s dividend payout ratio is currently 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.