Cohen & Steers Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 99.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 409 shares of the shipping service provider’s stock after selling 92,937 shares during the period. Cohen & Steers Inc.’s holdings in FedEx were worth $66,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc grew its stake in FedEx by 0.5% in the third quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock valued at $4,670,511,000 after purchasing an additional 96,084 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Dodge & Cox grew its stake in FedEx by 20.0% in the third quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after purchasing an additional 2,065,853 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in FedEx by 4.9% in the third quarter. Canada Pension Plan Investment Board now owns 3,617,702 shares of the shipping service provider’s stock valued at $871,106,000 after purchasing an additional 170,410 shares during the last quarter. Finally, Northern Trust Corp grew its stake in FedEx by 3.0% in the fourth quarter. Northern Trust Corp now owns 2,859,318 shares of the shipping service provider’s stock valued at $461,295,000 after purchasing an additional 84,617 shares during the last quarter. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Shares of FDX stock opened at $181.41 on Wednesday. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The stock has a market cap of $47.61 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. 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 also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 16.98%.
In related news, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Steiner bought 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were purchased at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the acquisition, the director now directly owns 25,994 shares of the company’s stock, valued at $4,234,942.48. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
Several research firms have issued reports on FDX. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James dropped their price target on FedEx from $235.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday. Cowen restated an “outperform” rating and set a $237.00 price target (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th. UBS Group dropped their price target on FedEx from $234.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 10th. Finally, Berenberg Bank restated a “buy” rating and set a $245.00 price target on shares of FedEx in a research note on Monday, January 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $234.50.
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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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