Tokio Marine Asset Management Co. Ltd. Has $1.42 Million Stock Position in FedEx Co. (NYSE:FDX)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in FedEx Co. (NYSE:FDX) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,608 shares of the shipping service provider’s stock after purchasing an additional 301 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in FedEx were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FDX. KRS Capital Management LLC raised its holdings in shares of FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after purchasing an additional 41 shares during the period. Zullo Investment Group Inc. raised its stake in FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp lifted its stake in shares of FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares during the last quarter. SVB Wealth LLC increased its position in FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after purchasing an additional 44 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock valued at $40,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.5 %

NYSE:FDX traded up $1.30 during trading hours on Friday, reaching $266.82. 79,539 shares of the company traded hands, compared to its average volume of 2,016,745. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27. The business’s 50-day moving average price is $261.61 and its two-hundred day moving average price is $254.44. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $65.66 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $3.41 EPS. Analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is 29.07%.

Insider Buying and Selling at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. TD Cowen lifted their price target on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. The Goldman Sachs Group lifted their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research note on Monday, January 8th. Morgan Stanley lifted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Finally, Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

About FedEx

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.