DnB Asset Management AS Has $17.39 Million Holdings in FedEx Co. (NYSE:FDX)

DnB Asset Management AS boosted its position in FedEx Co. (NYSE:FDX) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,826 shares of the shipping service provider’s stock after buying an additional 249 shares during the period. DnB Asset Management AS’s holdings in FedEx were worth $17,394,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of FedEx in the 4th quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new position in FedEx in the fourth quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC boosted its holdings in shares of FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC grew its position in shares of FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after buying an additional 321,141 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of several research analyst reports. Citigroup cut their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Raymond James reduced their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Finally, Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,711 shares of company stock valued at $3,312,693 over the last three months. Company insiders own 8.87% of the company’s stock.

FedEx Trading Down 0.9 %

Shares of FDX stock opened at $241.75 on Friday. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $256.59 and a 200-day moving average of $271.07. The firm has a market cap of $58.22 billion, a P/E ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company earned $3.86 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current 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 paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 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.