AIA Group Ltd Acquires 7,300 Shares of FedEx Co. (NYSE:FDX)

AIA Group Ltd lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 142.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,442 shares of the shipping service provider’s stock after buying an additional 7,300 shares during the period. AIA Group Ltd’s holdings in FedEx were worth $3,147,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. RB Capital Management LLC boosted its position in FedEx by 3.3% during the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 63 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after buying an additional 4,693 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of FedEx by 101.5% in the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares in the last quarter. Baird Financial Group Inc. increased its holdings in FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock worth $34,408,000 after buying an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in FedEx by 553.3% during the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 20th. Raymond James dropped their price objective on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 20th. Stephens decreased their target price on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, December 20th. Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Evercore ISI upped their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Price Performance

Shares of FedEx stock traded down $0.12 on Thursday, reaching $262.95. 531,792 shares of the stock were exchanged, compared to its average volume of 2,078,327. The firm’s 50 day moving average is $258.30 and its 200-day moving average is $254.11. The firm has a market cap of $64.71 billion, a PE ratio of 15.17, a P/E/G ratio of 1.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a one year low of $213.80 and a one year high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the business posted $3.41 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% 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.