US Bancorp DE Purchases 1,284 Shares of FedEx Co. (NYSE:FDX)

US Bancorp DE raised its stake in FedEx Co. (NYSE:FDX) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,918 shares of the shipping service provider’s stock after buying an additional 1,284 shares during the quarter. US Bancorp DE’s holdings in FedEx were worth $32,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FDX. Farther Finance Advisors LLC lifted its stake in FedEx by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 298 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of FedEx by 3.2% during the third quarter. Chicago Partners Investment Group LLC now owns 1,639 shares of the shipping service provider’s stock worth $439,000 after purchasing an additional 51 shares during the period. F M Investments LLC raised its position in shares of FedEx by 3.9% during the third quarter. F M Investments LLC now owns 6,527 shares of the shipping service provider’s stock worth $1,764,000 after purchasing an additional 247 shares during the period. Princeton Global Asset Management LLC raised its position in shares of FedEx by 59.2% during the third quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock worth $218,000 after purchasing an additional 296 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the third quarter worth about $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.8 %

FDX stock opened at $263.11 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $268.78 and a two-hundred day moving average price of $277.32. The company has a market cap of $63.37 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a twelve month low of $242.92 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 EPS 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 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 2.10%. FedEx’s dividend payout ratio is currently 35.18%.

Insider Transactions at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen raised their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

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.