Allianz SE Purchases Shares of 65,201 FedEx Co. (NYSE:FDX)

Allianz SE bought a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel reports. The fund bought 65,201 shares of the shipping service provider’s stock, valued at approximately $18,342,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Fortitude Family Office LLC raised its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new stake in FedEx in the 4th quarter valued at about $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter worth about $28,000. Kentucky Trust Co purchased a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter worth $29,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and reduced their target price for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Stifel Nicolaus dropped their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, BMO Capital Markets reduced 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 report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were 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 $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last quarter. 8.87% of the stock is owned by insiders.

FedEx Price Performance

FedEx stock opened at $241.75 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The business has a fifty day moving average of $256.59 and a two-hundred day moving average of $271.07. The company has a market cap of $58.22 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

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 the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the company posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s payout ratio is currently 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.