Vinva Investment Management Ltd Reduces Holdings in FedEx Co. (NYSE:FDX)

Vinva Investment Management Ltd trimmed its position in shares of FedEx Co. (NYSE:FDX) by 49.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,121 shares of the shipping service provider’s stock after selling 4,912 shares during the quarter. Vinva Investment Management Ltd’s holdings in FedEx were worth $1,437,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its holdings in FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. Cetera Trust Company N.A grew its holdings in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares in the last quarter. Griffin Asset Management Inc. grew its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares in the last quarter. Aviso Financial Inc. grew its holdings in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after buying an additional 40 shares in the last quarter. Finally, Richard P Slaughter Associates Inc grew its holdings in FedEx by 0.5% in the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after buying an additional 42 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FDX. Wells Fargo & Company dropped their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Citigroup decreased their price target on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $317.48.

FedEx Price Performance

Shares of NYSE FDX opened at $246.00 on Friday. The stock’s 50-day moving average is $260.76 and its two-hundred day moving average is $273.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $228.37 and a 1-year high of $313.84. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the company earned $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.24%. FedEx’s payout ratio is currently 35.18%.

Insider Activity

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% 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.