FedEx Co. (NYSE:FDX) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of FedEx Co. (NYSE:FDX) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,442 shares of the shipping service provider’s stock after purchasing an additional 3,461 shares during the quarter. QRG Capital Management Inc.’s holdings in FedEx were worth $20,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. Citizens Financial Group Inc. RI lifted its stake in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in shares of FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares during the period. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Harbour Investments Inc. boosted its position in shares of FedEx by 1.5% during the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after buying an additional 40 shares during the period. Finally, Cetera Trust Company N.A lifted its position in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Bank of America increased their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Stock Down 0.2 %

Shares of FDX opened at $256.09 on Thursday. The firm has a market capitalization of $61.68 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a 12-month low of $239.07 and a 12-month high of $313.84. 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 firm has a fifty day moving average price of $269.38 and a 200-day moving average price of $277.65.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. During the same period in the previous year, the company posted $3.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.16%. FedEx’s payout ratio is 35.18%.

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.