FedEx Co. (NYSE:FDX) Stake Decreased by Investment House LLC

Investment House LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,236 shares of the shipping service provider’s stock after selling 526 shares during the period. Investment House LLC’s holdings in FedEx were worth $12,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FDX. Fortitude Family Office LLC raised its holdings in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FDX. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $317.48.

FedEx Trading Up 0.1 %

FedEx stock opened at $245.58 on Wednesday. The company’s fifty day simple moving average is $261.87 and its 200-day simple moving average is $273.48. 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. The stock has a market cap of $59.15 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is presently 35.18%.

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

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.