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

Allstate Corp purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,875 shares of the shipping service provider’s stock, valued at approximately $1,934,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in FedEx during the fourth quarter valued at about $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx in the 4th quarter valued at about $234,028,000. ACR Alpine Capital Research LLC boosted its position 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 valued at $239,909,000 after purchasing an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC grew 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 worth $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings 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 worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by insiders.

FedEx Trading Down 0.9 %

Shares of NYSE:FDX opened at $241.75 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization 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 1 year low of $217.22 and a 1 year high of $313.84. The firm has a fifty day moving average price of $256.59 and a 200 day moving average price of $270.98.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the company posted $3.86 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. 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 dividend payout ratio is 34.63%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. Citigroup cut their target price on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Barclays cut their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

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.