Cary Street Partners Financial LLC Purchases Shares of 36,334 FedEx Co. (NYSE:FDX)

Cary Street Partners Financial LLC acquired a new position in FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 36,334 shares of the shipping service provider's stock, valued at approximately $10,222,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC acquired a new stake in FedEx during the 4th quarter worth about $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx during the 4th quarter worth about $28,000. City Holding Co. acquired a new position in shares of FedEx in the fourth quarter worth about $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company'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 completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.87% of the company's stock.

FedEx Price Performance

Shares of FedEx stock opened at $219.66 on Monday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The firm has a fifty day simple moving average of $228.72 and a 200-day simple moving average of $259.81. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $52.63 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $3.86 earnings per share. On average, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on FDX shares. BNP Paribas raised shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Citigroup decreased their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America dropped their price target on FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Finally, Truist Financial dropped their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

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.

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