FedEx Co. (NYSE:FDX) Shares Acquired by WESCAP Management Group Inc.

WESCAP Management Group Inc. lifted its stake in shares of FedEx Co. (NYSE:FDX) by 29.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,192 shares of the shipping service provider’s stock after purchasing an additional 500 shares during the quarter. WESCAP Management Group Inc.’s holdings in FedEx were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FDX. Vanguard Group Inc. lifted its position in FedEx by 0.3% during 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 acquiring an additional 56,236 shares during the period. Geode Capital Management LLC boosted its position in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after buying an additional 109,006 shares during the last quarter. Franklin Resources Inc. increased its holdings 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 during the period. Norges Bank purchased a new position in FedEx during the 4th quarter worth approximately $807,352,000. Finally, Mawer Investment Management Ltd. lifted its stake in FedEx by 5.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider’s stock valued at $664,447,000 after acquiring an additional 130,044 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of NYSE:FDX opened at $241.86 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The firm has a market capitalization of $57.95 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. The business’s 50 day moving average price is $255.30 and its 200-day moving average price is $270.28.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $3.86 EPS. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 34.63%.

Analysts Set New Price Targets

FDX has been the topic of a number of research reports. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. BMO Capital Markets decreased their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Finally, TD Cowen dropped their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $302.71.

Insider Transactions at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were 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 represents a 20.86 % decrease in their position. 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 ninety days. Insiders own 8.87% of the company’s stock.

About FedEx

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.