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

AIA Group Ltd raised its holdings in shares of FedEx Co. (NYSE:FDX) by 142.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,442 shares of the shipping service provider’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Oliver Lagore Vanvalin Investment Group raised its holdings in FedEx by 42.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 2,403 shares of the shipping service provider’s stock worth $608,000 after purchasing an additional 715 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in FedEx by 185.5% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 12,206 shares of the shipping service provider’s stock worth $3,088,000 after buying an additional 7,930 shares during the period. Daiwa Securities Group Inc. boosted its position in FedEx by 9.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 21,768 shares of the shipping service provider’s stock valued at $5,507,000 after acquiring an additional 1,929 shares in the last quarter. KLCM Advisors Inc. purchased a new position in shares of FedEx during the 4th quarter worth approximately $253,000. Finally, Rakuten Securities Inc. bought a new position in shares of FedEx in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their price target on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was 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 directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 in the last quarter. 8.73% of the stock is owned by insiders.

FedEx Price Performance

Shares of NYSE FDX traded down $0.12 during midday trading on Thursday, reaching $262.95. 531,792 shares of the stock traded hands, compared to its average volume of 2,078,327. The company’s 50 day moving average is $258.30 and its 200 day moving average is $254.11. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The stock has a market capitalization 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 current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.41 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

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

FedEx declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

FedEx Company 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.