Ameriprise Financial Inc. Lowers Position in FedEx Co. (NYSE:FDX)

Ameriprise Financial Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,700,236 shares of the shipping service provider's stock after selling 586,980 shares during the period. Ameriprise Financial Inc. owned approximately 0.71% of FedEx worth $478,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. bLong Financial LLC acquired a new position in FedEx in the fourth quarter valued at $391,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $461,000. Wedmont Private Capital increased its position in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock worth $631,000 after purchasing an additional 91 shares in the last quarter. GFS Advisors LLC purchased a new position in FedEx in the fourth quarter valued at approximately $26,855,000. Finally, Persium Advisors LLC acquired a new position in FedEx during the fourth quarter valued at approximately $530,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Up 4.6 %

FDX stock opened at $219.66 on Monday. The stock has a market cap of $52.63 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The firm's 50-day simple moving average is $228.72 and its 200 day simple moving average is $259.81. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during 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%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.86 EPS. As a group, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is 34.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FDX shares. Truist Financial cut their target price on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stephens reduced their price target on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company lowered their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 target price on the stock. Finally, Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $297.71.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.87% of the company's stock.

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.

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