Daiwa Securities Group Inc. Has $5.51 Million Holdings in FedEx Co. (NYSE:FDX)

Daiwa Securities Group Inc. grew its position in FedEx Co. (NYSE:FDX) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,768 shares of the shipping service provider’s stock after acquiring an additional 1,929 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FedEx were worth $5,507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Financial Management Professionals Inc. boosted its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Rakuten Securities Inc. bought a new stake in FedEx during the 4th quarter worth about $30,000. Tennessee Valley Asset Management Partners bought a new stake in FedEx during the 4th quarter worth about $31,000. Planned Solutions Inc. acquired a new position in FedEx during the 4th quarter valued at about $32,000. Finally, Valley National Advisers Inc. boosted its stake in shares of FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last three months. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Stifel Nicolaus decreased their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. BMO Capital Markets upped their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, UBS Group upped their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Up 1.4 %

FDX stock opened at $266.99 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $65.70 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.24 and a beta of 1.21. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a 50-day moving average of $259.22 and a 200-day moving average of $254.19.

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

FedEx announced that its Board of Directors has initiated a share buyback 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 purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.