FedEx Co. (NYSE:FDX) Shares Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. raised its stake in shares of FedEx Co. (NYSE:FDX) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,812 shares of the shipping service provider’s stock after purchasing an additional 277 shares during the quarter. FedEx comprises 1.4% of Lee Danner & Bass Inc.’s holdings, making the stock its 12th biggest position. Lee Danner & Bass Inc.’s holdings in FedEx were worth $18,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. increased its stake in FedEx by 75.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,933 shares of the shipping service provider’s stock valued at $544,000 after purchasing an additional 831 shares in the last quarter. Blueshift Asset Management LLC increased its stake in FedEx by 93.4% during the 4th quarter. Blueshift Asset Management LLC now owns 2,856 shares of the shipping service provider’s stock valued at $803,000 after purchasing an additional 1,379 shares in the last quarter. Teacher Retirement System of Texas increased its stake in FedEx by 781.1% during the 4th quarter. Teacher Retirement System of Texas now owns 13,692 shares of the shipping service provider’s stock valued at $3,852,000 after purchasing an additional 12,138 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in FedEx by 1.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 92,236 shares of the shipping service provider’s stock valued at $25,949,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Kazazian Asset Management LLC acquired a new position in FedEx during the 4th quarter valued at approximately $957,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.5 %

Shares of NYSE:FDX opened at $246.00 on Friday. The company has a market capitalization of $59.25 billion, a PE ratio of 15.68, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $226.11 and a twelve month high of $313.84. The firm has a 50 day simple moving average of $260.76 and a 200-day simple moving average of $273.11.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS 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 business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the company earned $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.24%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Truist Financial initiated coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective on the stock. Finally, Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.48.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 8,904 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

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.