FedEx Co. (NYSE:FDX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,496 shares of the shipping service provider's stock after selling 3,711 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.11% of FedEx worth $73,004,000 as of its most recent filing with the Securities & Exchange Commission.

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

FedEx Stock Down 0.7%

Shares of NYSE FDX traded down $1.69 during midday trading on Tuesday, hitting $231.26. The company's stock had a trading volume of 2,193,830 shares, compared to its average volume of 1,800,264. 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 $55.41 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The business's fifty day simple moving average is $224.34 and its two-hundred day simple moving average is $257.64. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same period last year, the company earned $3.86 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FDX. TD Cowen reduced their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Truist Financial lowered their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reduced their price objective on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Finally, Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. 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. According to data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $297.63.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.87% of the company's stock.

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.