Carret Asset Management LLC Has $8.46 Million Position in FedEx Co. (NYSE:FDX)

Carret Asset Management LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,063 shares of the shipping service provider’s stock after selling 298 shares during the quarter. FedEx accounts for 0.9% of Carret Asset Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Carret Asset Management LLC’s holdings in FedEx were worth $8,458,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. acquired a new position in FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth $28,000. Finally, Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $240.74 on Friday. The firm has a market capitalization of $57.98 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average price of $263.68 and a 200 day moving average price of $274.89. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $239.50 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $3.99 earnings per share. Research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company 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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FDX shares. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Truist Financial assumed coverage on shares of FedEx in a report on Thursday. They set a “buy” rating and a $305.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.04.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase 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.