Pictet Asset Management Holding SA Has $27.12 Million Position in FedEx Co. (NYSE:FDX)

Pictet Asset Management Holding SA decreased its position in shares of FedEx Co. (NYSE:FDX) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,397 shares of the shipping service provider’s stock after selling 4,112 shares during the period. Pictet Asset Management Holding SA’s holdings in FedEx were worth $27,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FDX. bLong Financial LLC bought a new position in shares of FedEx in the 4th quarter valued at $391,000. Virtu Financial LLC bought a new stake in shares of FedEx during the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC acquired a new stake in FedEx in the fourth quarter valued at about $461,000. Wedmont Private Capital grew its position in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new position in FedEx during the fourth quarter worth about $26,855,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. BMO Capital Markets decreased their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Stephens decreased their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus dropped their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.71.

FedEx Stock Up 1.0 %

Shares of NYSE FDX opened at $244.07 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $58.48 billion, a PE ratio of 15.56, a P/E/G ratio of 1.11 and a beta of 1.23. The company’s fifty day simple moving average is $255.97 and its 200 day simple moving average is $270.59. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the company earned $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 in the last ninety days. Corporate 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.