Tocqueville Asset Management L.P. Boosts Stake in FedEx Co. (NYSE:FDX)

Tocqueville Asset Management L.P. grew its stake in FedEx Co. (NYSE:FDX) by 50.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 245,539 shares of the shipping service provider’s stock after purchasing an additional 82,189 shares during the quarter. FedEx makes up approximately 1.1% of Tocqueville Asset Management L.P.’s holdings, making the stock its 17th biggest holding. Tocqueville Asset Management L.P. owned about 0.10% of FedEx worth $69,078,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FDX shares. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped 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. Truist Financial started coverage on shares of FedEx in a research note on Thursday. They set a “buy” rating and a $305.00 price objective on the stock. Finally, Stifel Nicolaus cut their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the 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 completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents 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 bought 1,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This 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 company insiders.

FedEx Stock Up 0.5 %

FDX stock opened at $242.27 on Monday. 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 1 year low of $239.50 and a 1 year high of $313.84. The company has a fifty day simple moving average of $263.04 and a 200 day simple moving average of $274.21. The firm has a market cap of $58.35 billion, a PE ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $3.99 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is presently 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.