Congress Wealth Management LLC DE Decreases Stock Position in FedEx Co. (NYSE:FDX)

Congress Wealth Management LLC DE reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 50.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,625 shares of the shipping service provider’s stock after selling 24,931 shares during the quarter. Congress Wealth Management LLC DE’s holdings in FedEx were worth $6,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of FedEx in the fourth quarter worth $234,028,000. ACR Alpine Capital Research LLC raised its position in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after buying an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after buying an additional 321,141 shares during the period. Franklin Resources Inc. boosted its position in 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 acquiring an additional 314,380 shares during the last quarter. Finally, KBC Group NV raised its holdings in FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on 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 transaction, the director now 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. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

FDX opened at $241.19 on Wednesday. The company has a market capitalization of $58.09 billion, a P/E ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23. The company has a 50-day moving average of $258.58 and a 200-day moving average of $271.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84.

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

FedEx Dividend Announcement

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 issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. FedEx’s dividend payout ratio (DPR) is 34.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FDX shares. Raymond James lowered their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and cut their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, BMO Capital Markets cut 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $300.60.

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.