FedEx Corporation $FDX Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its FedEx stake by 16.5% in the second quarter, selling 3,568 shares and retaining 18,074 shares valued at approximately $5.66 million.
• FedEx director Paul Walsh sold 5,042 shares for about $1.64 million, reducing his position by 23.56%; institutional investors and hedge funds collectively own 84.47% of the company.
• FedEx reported quarterly EPS of $5.88 on revenue of $23.26 billion and declared a quarterly dividend of $1.22, or $4.88 annually. Analysts maintain a “Moderate Buy” consensus with an average price target of $350.54.

B. Metzler seel. Sohn & Co. AG lessened its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,074 shares of the shipping service provider's stock after selling 3,568 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in FedEx were worth $5,660,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FDX. Hollencrest Capital Management acquired a new position in FedEx in the first quarter valued at about $25,000. Bayban purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $26,000. Solstein Capital LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at approximately $27,000. EFG International AG acquired a new position in shares of FedEx in the 4th quarter worth approximately $27,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

FedEx Price Performance

Shares of FDX opened at $323.75 on Friday. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The firm's 50 day moving average price is $319.29 and its 200 day moving average price is $349.29. The company has a market cap of $76.62 billion, a P/E ratio of 17.49, a PEG ratio of 1.68 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a report on Saturday, August 8th. Truist Financial decreased their price target on FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. Raymond James Financial set a $330.00 price target on FedEx in a research report on Friday, August 28th. HSBC dropped their price objective on FedEx from $360.00 to $289.89 and set a "hold" rating for the company in a research note on Monday, June 1st. Finally, Stephens upgraded FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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