Oakworth Capital Inc. grew its position in shares of FedEx Co. (NYSE:FDX) by 11.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,124 shares of the shipping service provider’s stock after buying an additional 119 shares during the period. Oakworth Capital Inc.’s holdings in FedEx were worth $182,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $25,000. SlateStone Wealth LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $2,374,000. Dimensional Fund Advisors LP increased its holdings in shares of FedEx by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock valued at $383,063,000 after acquiring an additional 418,451 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of FedEx by 8.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,978 shares of the shipping service provider’s stock valued at $11,290,000 after acquiring an additional 5,504 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in shares of FedEx by 21.0% during the fourth quarter. Commonwealth Bank of Australia now owns 37,616 shares of the shipping service provider’s stock valued at $6,062,000 after acquiring an additional 6,521 shares in the last quarter. Hedge funds and other institutional investors own 71.39% of the company’s stock.
Shares of NYSE FDX opened at $177.98 on Friday. FedEx Co. has a one year low of $150.94 and a one year high of $266.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a market cap of $46.46 billion, a PE ratio of 11.63, a PEG ratio of 0.87 and a beta of 1.63.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.46%. FedEx’s payout ratio is 16.98%.
In related news, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the sale, the vice president now directly owns 30,185 shares in the company, valued at approximately $5,500,914.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner acquired 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were bought at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the purchase, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
Several research analysts recently issued reports on FDX shares. ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 26th. Morgan Stanley cut their target price on FedEx from $230.00 to $156.00 and set an “equal weight” rating on the stock in a research report on Friday, December 21st. Bank of America reaffirmed a “neutral” rating and set a $193.00 target price (down previously from $220.00) on shares of FedEx in a research report on Wednesday, December 19th. Finally, Cowen reissued an “outperform” rating and issued a $237.00 price objective (down previously from $242.00) on shares of FedEx in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $234.74.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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