Tocqueville Asset Management L.P. Has $69.08 Million Stock Position in FedEx Co. (NYSE:FDX)

Tocqueville Asset Management L.P. raised its stake in FedEx Co. (NYSE:FDX) by 50.3% in the 4th quarter, HoldingsChannel reports. The fund owned 245,539 shares of the shipping service provider’s stock after buying an additional 82,189 shares during the quarter. FedEx accounts for about 1.1% of Tocqueville Asset Management L.P.’s holdings, making the stock its 17th biggest holding. Tocqueville Asset Management L.P.’s holdings in FedEx were worth $69,078,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC boosted its position in FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after buying an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after buying an additional 321,141 shares during the period. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 314,380 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares during the period. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FDX shares. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $318.04.

FedEx Stock Up 0.5 %

Shares of 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 firm’s fifty day moving average price is $263.04 and its two-hundred day moving average price is $274.21. The firm has a market capitalization of $58.35 billion, a P/E ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.99 EPS. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In related news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, 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 company insiders.

About FedEx

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.