FedEx Co. (NYSE:FDX) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its position in FedEx Co. (NYSE:FDX) by 15.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,344 shares of the shipping service provider’s stock after selling 591 shares during the period. First Horizon Advisors Inc.’s holdings in FedEx were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC grew its stake in FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the period. KBC Group NV boosted its position in FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares during the last quarter. World Investment Advisors LLC increased its holdings in FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after buying an additional 183,940 shares during the period. Finally, Empirical Asset Management LLC purchased a new position in FedEx during the 4th quarter worth approximately $49,445,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane acquired 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, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’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 completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Stock Down 0.5 %

NYSE FDX opened at $252.94 on Tuesday. FedEx Co. has a one year low of $239.07 and a one year high of $313.84. 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 has a fifty day moving average price of $270.14 and a 200 day moving average price of $277.95. The company has a market cap of $60.92 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18.

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, topping 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 firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the firm posted $3.99 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.18%. FedEx’s payout ratio is 35.18%.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Citigroup boosted their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group raised their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

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.