Envestnet Portfolio Solutions Inc. Sells 1,795 Shares of FedEx Co. (NYSE:FDX)

Envestnet Portfolio Solutions Inc. reduced its position in FedEx Co. (NYSE:FDX) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,550 shares of the shipping service provider’s stock after selling 1,795 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in FedEx were worth $5,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. United Bank bought a new position in shares of FedEx during the third quarter worth $615,000. Empowered Funds LLC boosted its position in shares of FedEx by 85.4% during the third quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock worth $2,448,000 after acquiring an additional 4,121 shares during the last quarter. Quest Partners LLC bought a new position in shares of FedEx during the third quarter worth $123,000. Meeder Advisory Services Inc. boosted its position in shares of FedEx by 2.0% during the third quarter. Meeder Advisory Services Inc. now owns 6,317 shares of the shipping service provider’s stock worth $1,729,000 after acquiring an additional 124 shares during the last quarter. Finally, Aviance Capital Partners LLC boosted its position in shares of FedEx by 3.3% during the third quarter. Aviance Capital Partners LLC now owns 8,926 shares of the shipping service provider’s stock worth $2,443,000 after acquiring an additional 281 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 0.1 %

FDX stock opened at $245.58 on Wednesday. The company has a market capitalization of $59.15 billion, a PE ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The firm’s 50-day moving average is $261.87 and its 200 day moving average is $273.48. 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 (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.99 EPS. On average, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Citigroup dropped their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday. 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 research note on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their price target for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, UBS Group upped their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.48.

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.