FedEx Co. (NYSE:FDX) Holdings Raised by Northern Trust Corp

Northern Trust Corp boosted its stake in FedEx Co. (NYSE:FDX) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,357,017 shares of the shipping service provider’s stock after buying an additional 273,478 shares during the quarter. Northern Trust Corp owned approximately 0.98% of FedEx worth $663,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after buying an additional 56,236 shares in the last quarter. Dodge & Cox lifted its position in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Geode Capital Management LLC lifted its position in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. lifted its position in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. lifted its position in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after buying an additional 127,044 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. 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 report on Friday, March 21st. TD Cowen cut their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Truist Financial cut their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. UBS Group cut their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. 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 company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $297.71.

FedEx Stock Performance

NYSE FDX opened at $211.48 on Tuesday. The stock has a market cap of $50.67 billion, a P/E ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24. The company’s 50-day simple moving average is $232.36 and its 200 day simple moving average is $261.42. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. 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 posted its earnings results 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 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%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.86 EPS. As a group, research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company 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 2.61%. FedEx’s dividend payout ratio is 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.