6,875 Shares in FedEx Co. (NYSE:FDX) Acquired by Allstate Corp

Allstate Corp purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,875 shares of the shipping service provider’s stock, valued at approximately $1,934,000.

A number of other large investors also recently bought and sold shares of FDX. bLong Financial LLC acquired a new stake in shares of FedEx during the 4th quarter worth $391,000. Virtu Financial LLC acquired a new stake in FedEx during the third quarter worth about $3,405,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx in the 4th quarter worth about $461,000. Wedmont Private Capital lifted its stake in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $26,855,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on 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 owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FDX shares. Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. BMO Capital Markets reduced their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Finally, Truist Financial started coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price for the company. Two research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Price Performance

Shares of NYSE:FDX opened at $241.75 on Friday. The company has a market cap of $57.92 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The firm has a 50-day simple moving average of $256.59 and a 200 day simple moving average of $270.98. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its 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). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be 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 is Monday, March 10th. FedEx’s payout ratio is 34.63%.

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.