New South Capital Management Inc. Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

New South Capital Management Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 171,538 shares of the shipping service provider’s stock after selling 2,158 shares during the quarter. FedEx accounts for approximately 2.0% of New South Capital Management Inc.’s holdings, making the stock its 19th largest holding. New South Capital Management Inc.’s holdings in FedEx were worth $48,259,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in FedEx by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider’s stock valued at $457,000 after purchasing an additional 298 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in FedEx during the 3rd quarter valued at approximately $47,000. Robeco Institutional Asset Management B.V. grew its stake in FedEx by 62.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock valued at $12,250,000 after purchasing an additional 17,129 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in FedEx during the 3rd quarter valued at approximately $74,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in FedEx during the 3rd quarter valued at approximately $51,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 1.2 %

NYSE:FDX opened at $250.64 on Thursday. The business has a 50 day simple moving average of $267.66 and a 200 day simple moving average of $276.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $60.37 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12-month low of $242.92 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its 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 firm 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 EPS. Equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

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 paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FDX shares. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective 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 note on Monday, February 3rd. Stifel Nicolaus lowered their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Bank of America lifted their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets lifted their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.74.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

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.