Elo Mutual Pension Insurance Co Sells 877 Shares of FedEx Co. (NYSE:FDX)

Elo Mutual Pension Insurance Co lessened its holdings in FedEx Co. (NYSE:FDX) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,181 shares of the shipping service provider’s stock after selling 877 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in FedEx were worth $5,959,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FDX. WINTON GROUP Ltd boosted its stake in FedEx by 12.7% in the fourth quarter. WINTON GROUP Ltd now owns 15,313 shares of the shipping service provider’s stock valued at $4,308,000 after acquiring an additional 1,728 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of FedEx by 6.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 358,690 shares of the shipping service provider’s stock valued at $98,428,000 after purchasing an additional 22,518 shares during the period. Korea Investment CORP boosted its position in shares of FedEx by 27.9% in the 4th quarter. Korea Investment CORP now owns 164,433 shares of the shipping service provider’s stock worth $46,260,000 after purchasing an additional 35,914 shares during the last quarter. Hardin Capital Partners LLC acquired a new stake in shares of FedEx during the fourth quarter worth $211,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in FedEx in the fourth quarter valued at about $506,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FDX shares. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price objective on the stock. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, Bank of America decreased their price target on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two equities 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $302.71.

FedEx Stock Performance

Shares of FedEx stock opened at $244.26 on Friday. The company’s 50 day moving average price is $257.26 and its two-hundred day moving average price is $271.36. The firm has a market capitalization of $58.83 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. 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 (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the company earned $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued 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 2.26%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Buying and Selling

In related news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased 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 owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the 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 of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last ninety days. Company insiders own 8.87% of the company’s stock.

FedEx 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.