FedEx Co. (NYSE:FDX) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its holdings in FedEx Co. (NYSE:FDX) by 27.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,433 shares of the shipping service provider’s stock after purchasing an additional 35,914 shares during the quarter. Korea Investment CORP owned approximately 0.07% of FedEx worth $46,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Hardin Capital Partners LLC acquired a new stake in shares of FedEx in the fourth quarter worth approximately $211,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in FedEx during the fourth quarter worth approximately $506,000. Financial Counselors Inc. boosted its holdings in shares of FedEx by 1.9% in the 4th quarter. Financial Counselors Inc. now owns 3,872 shares of the shipping service provider’s stock valued at $1,089,000 after purchasing an additional 71 shares during the last quarter. Summitry LLC acquired a new position in shares of FedEx in the 4th quarter valued at $204,000. Finally, Modern Wealth Management LLC grew its stake in shares of FedEx by 4.4% during the 4th quarter. Modern Wealth Management LLC now owns 2,139 shares of the shipping service provider’s stock valued at $552,000 after buying an additional 91 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction 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. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,711 shares of company stock valued at $3,312,693. Insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. UBS Group cut their target price on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Citigroup decreased their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

FedEx Stock Performance

FedEx stock opened at $244.26 on Friday. 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 company has a fifty day moving average price of $257.26 and a two-hundred day moving average price of $271.36. The company has a market cap of $58.83 billion, a PE ratio of 15.57, a P/E/G ratio of 1.11 and a beta of 1.23.

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 the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 earnings per share. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business 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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

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.