Nomura Asset Management Co. Ltd. boosted its position in FedEx Co. (NYSE:FDX) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,304 shares of the shipping service provider’s stock after purchasing an additional 4,442 shares during the period. Nomura Asset Management Co. Ltd. owned 0.07% of FedEx worth $30,864,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwest Wealth Management LLC grew its position in shares of FedEx by 842.1% in the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of FedEx by 1,666.7% in the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $43,000. Burt Wealth Advisors grew its position in shares of FedEx by 102.2% in the 4th quarter. Burt Wealth Advisors now owns 277 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 140 shares during the last quarter. Finally, Athena Capital Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $55,000. 71.39% of the stock is owned by institutional investors and hedge funds.
FDX stock opened at $179.08 on Friday. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.42. The company has a market cap of $46.86 billion, a P/E ratio of 11.70, a PEG ratio of 0.87 and a beta of 1.63.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 16.98%.
FDX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $256.00 price target on shares of FedEx in a research report on Tuesday, December 18th. Berenberg Bank reiterated a “buy” rating and issued a $245.00 price target on shares of FedEx in a research report on Monday, January 7th. Robert W. Baird reduced their price target on FedEx from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. ValuEngine upgraded FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, UBS Group reduced their price target on FedEx from $234.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $235.00.
In other FedEx news, Director David P. Steiner purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was bought at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the transaction, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John L. Merino sold 2,300 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the sale, the vice president now directly owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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