Mawer Investment Management Ltd. Boosts Stake in FedEx Co. (NYSE:FDX)

Mawer Investment Management Ltd. boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 5.8% in the 4th quarter, Holdings Channel reports. The fund owned 2,361,808 shares of the shipping service provider’s stock after acquiring an additional 130,044 shares during the quarter. FedEx accounts for 3.0% of Mawer Investment Management Ltd.’s holdings, making the stock its 11th largest holding. Mawer Investment Management Ltd.’s holdings in FedEx were worth $664,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in FedEx in the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC increased its stake in shares of 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 worth $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC raised its holdings 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 acquiring an additional 321,141 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of FedEx by 8.6% during 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 during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.9 %

FDX opened at $241.75 on Friday. The business has a fifty day moving average price of $256.59 and a 200 day moving average price of $270.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.86 earnings per share. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. 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 dividend payout ratio (DPR) is presently 34.63%.

Analyst Ratings Changes

FDX has been the subject of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Citigroup cut their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 over the last three months. Insiders own 8.87% of the company’s stock.

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.