O Shaughnessy Asset Management LLC Increases Stock Position in FedEx Co. (NYSE:FDX)

O Shaughnessy Asset Management LLC grew its stake in FedEx Co. (NYSE:FDX) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,507 shares of the shipping service provider’s stock after buying an additional 2,340 shares during the period. O Shaughnessy Asset Management LLC’s holdings in FedEx were worth $11,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Cetera Trust Company N.A boosted its stake in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after acquiring an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares during the period. Aviso Financial Inc. lifted its position in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Richard P Slaughter Associates Inc grew its holdings in FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after purchasing an additional 42 shares during the period. Finally, WealthPlan Investment Management LLC raised its stake in shares of FedEx by 2.6% in the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after buying an additional 42 shares during the period. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent research reports. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Barclays dropped their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $302.71.

FedEx Stock Performance

Shares of NYSE:FDX opened at $244.07 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $58.48 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The firm’s 50-day moving average is $255.97 and its 200 day moving average is $270.59.

FedEx (NYSE:FDX) last issued its quarterly 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 return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 34.63%.

Insider Buying and Selling

In other news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on 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 directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock valued at $3,312,693 in the last 90 days. Company insiders own 8.87% of the company’s stock.

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.