FedEx Co. (NYSE:FDX) Holdings Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its holdings in FedEx Co. (NYSE:FDX) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,803 shares of the shipping service provider’s stock after acquiring an additional 171 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in FedEx were worth $19,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FDX. bLong Financial LLC acquired a new stake in shares of FedEx during the fourth quarter worth approximately $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx during the 3rd quarter valued at $3,405,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx during the 4th quarter valued at $461,000. Wedmont Private Capital increased its stake in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter worth $26,855,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the topic of several research reports. Bank of America dropped their target price on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and decreased their target price for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target on the stock. Finally, Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Price Performance

Shares of FDX stock opened at $241.75 on Friday. The company has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a 50 day moving average of $256.59 and a two-hundred day moving average of $270.98.

FedEx (NYSE:FDX) last issued its 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). 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 the consensus estimate of $21.96 billion. During the same period last year, the business earned $3.86 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a 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%.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % 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 worth $3,312,693 over the last quarter. Company 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.