FedEx Corporation (NYSE:FDX) Stock Position Trimmed by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. sold 32,444 shares of FedEx Corporation, decreasing its stake by 12.7% to 222,715 shares valued at approximately $54 million as of the latest SEC filing.
• FedEx has announced a quarterly dividend of $1.45 per share, up from the previous $1.38, reflecting a commitment to returning capital to shareholders.
• Several analysts have revised their ratings, with most now giving FedEx a "buy" rating and setting a consensus price target of $283.25.

Federated Hermes Inc. lessened its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 12.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,715 shares of the shipping service provider's stock after selling 32,444 shares during the period. Federated Hermes Inc. owned 0.09% of FedEx worth $54,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after buying an additional 207 shares during the period. Schroder Investment Management Group lifted its stake in shares of FedEx by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 59,526 shares of the shipping service provider's stock valued at $16,746,000 after buying an additional 169 shares during the period. Clearbridge Investments LLC lifted its stake in shares of FedEx by 7.3% during the fourth quarter. Clearbridge Investments LLC now owns 24,214 shares of the shipping service provider's stock valued at $6,812,000 after buying an additional 1,647 shares during the period. Geode Capital Management LLC lifted its stake in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after buying an additional 109,006 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $1,691,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 2.9%

FDX traded down $6.47 during trading hours on Friday, reaching $217.02. 2,211,970 shares of the stock traded hands, compared to its average volume of 1,851,030. The firm's fifty day simple moving average is $227.85 and its two-hundred day simple moving average is $235.48. The company has a market cap of $51.20 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.13 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the firm posted $5.41 EPS. As a group, analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.7%. FedEx's payout ratio is currently 34.36%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director directly owned 7,720 shares in the company, valued at $1,829,176.80. This represents a 31.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last ninety days. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets dropped their price target on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Citigroup upped their price target on shares of FedEx from $259.00 to $278.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of FedEx in a research report on Wednesday, June 25th. Finally, Bank of America dropped their price target on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

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.