Truist Financial Corp Sells 1,454 Shares of FedEx Co. (NYSE:FDX)

Truist Financial Corp reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 85,741 shares of the shipping service provider’s stock after selling 1,454 shares during the quarter. Truist Financial Corp’s holdings in FedEx were worth $24,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% during the 4th 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. Evermay Wealth Management LLC raised its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new stake in FedEx during the 4th quarter valued at $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the 4th quarter valued at $28,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FDX. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Stephens decreased their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Bank of America lifted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Raymond James lifted their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Stock Down 0.2 %

FedEx stock opened at $267.02 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The business’s 50-day simple moving average is $271.65 and its two-hundred day simple moving average is $278.45. The company has a market cap of $64.31 billion, a PE ratio of 17.02, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a fifty-two week low of $235.32 and a fifty-two week high of $313.84.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.07%. FedEx’s payout ratio is presently 35.18%.

Insider Buying and Selling at FedEx

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

FedEx Company 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.