Allianz SE Takes $18.34 Million Position in FedEx Co. (NYSE:FDX)

Allianz SE bought a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 65,201 shares of the shipping service provider’s stock, valued at approximately $18,342,000.

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

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’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 completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the 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 of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 over the last 90 days. Insiders own 8.87% of the company’s stock.

FedEx Trading Down 0.9 %

NYSE FDX opened at $241.75 on Friday. The stock has a market capitalization of $58.22 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. The business’s fifty day moving average is $256.59 and its 200-day moving average is $271.07. 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 one year low of $217.22 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx’s dividend payout ratio is presently 34.63%.

Analyst Ratings Changes

Several equities analysts have commented on FDX shares. Barclays lowered their target price on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. UBS Group lowered their price target on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Bank of America dropped their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.