Whittier Trust Co. of Nevada Inc. Buys 831 Shares of FedEx Co. (NYSE:FDX)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 75.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,933 shares of the shipping service provider’s stock after acquiring an additional 831 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in FedEx were worth $544,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. Cetera Trust Company N.A lifted its position in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after acquiring an additional 40 shares during the period. Aviso Financial Inc. boosted its stake in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after acquiring an additional 40 shares during the period. Finally, Richard P Slaughter Associates Inc grew its position in shares of FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $230.25 on Friday. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The stock has a 50 day moving average price of $259.95 and a 200 day moving average price of $272.49.

FedEx (NYSE:FDX) last issued its quarterly 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 business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the business posted $3.86 earnings per share. FedEx’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FDX. Stifel Nicolaus cut their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Truist Financial began coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price for the company. TD Cowen cut their target price on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup cut their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $301.67.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s 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 in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price 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 in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

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.