First Trust Advisors LP Sells 48,660 Shares of FedEx Co. (NYSE:FDX)

First Trust Advisors LP lowered its stake in FedEx Co. (NYSE:FDX - Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,416 shares of the shipping service provider's stock after selling 48,660 shares during the period. First Trust Advisors LP owned approximately 0.06% of FedEx worth $39,222,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its stake in shares of 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 during the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx during the 4th quarter worth about $28,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.87% of the company's stock.

FedEx Price Performance

NYSE:FDX traded up $0.49 during mid-day trading on Wednesday, reaching $210.34. 1,278,798 shares of the company were exchanged, compared to its average volume of 1,783,476. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a fifty day moving average of $230.32 and a 200 day moving average of $260.71. The stock has a market cap of $50.40 billion, a PE ratio of 13.41, a PEG ratio of 1.11 and a beta of 1.24. 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 posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm earned $3.86 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.62%. FedEx's dividend payout ratio (DPR) is presently 34.63%.

Analysts Set New Price Targets

Several brokerages have commented on FDX. BMO Capital Markets dropped their price target on FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Citigroup cut their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Truist Financial decreased 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $297.71.

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.