QRG Capital Management Inc. Raises Stock Holdings in FedEx Co. (NYSE:FDX)

QRG Capital Management Inc. lifted its stake in shares of FedEx Co. (NYSE:FDX) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,442 shares of the shipping service provider’s stock after buying an additional 3,461 shares during the quarter. QRG Capital Management Inc.’s holdings in FedEx were worth $20,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bryn Mawr Capital Management LLC boosted its stake in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after acquiring an additional 321,141 shares during the last quarter. Franklin Resources Inc. lifted its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the period. KBC Group NV raised its holdings in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of FedEx in the 4th quarter worth about $56,065,000. Finally, World Investment Advisors LLC raised its holdings in shares of FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group increased their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company lifted their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens cut their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, Barclays lifted their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following 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. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $256.09 on Thursday. The stock’s 50 day moving average is $269.38 and its 200 day moving average is $277.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market cap 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 one year low of $239.07 and a one year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share 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 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. As a group, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.16%. FedEx’s dividend payout ratio is currently 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.