Fifth Third Bancorp Sells 3,016 Shares of FedEx Co. (NYSE:FDX)

Fifth Third Bancorp reduced its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,968 shares of the shipping service provider's stock after selling 3,016 shares during the quarter. Fifth Third Bancorp's holdings in FedEx were worth $15,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FDX. Brighton Jones LLC lifted its stake in shares of FedEx by 12.8% during the 4th 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in FedEx during the 4th quarter worth approximately $76,000. Kentucky Trust Co bought a new stake in FedEx during the 4th quarter worth approximately $28,000. Naples Global Advisors LLC increased its holdings in FedEx by 2.2% during the 4th quarter. Naples Global Advisors LLC now owns 3,869 shares of the shipping service provider's stock worth $1,093,000 after acquiring an additional 85 shares during the period. Finally, Consolidated Planning Corp increased its holdings in FedEx by 3.1% during the 4th quarter. Consolidated Planning Corp now owns 21,561 shares of the shipping service provider's stock worth $6,066,000 after acquiring an additional 655 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.87% of the company's stock.

FedEx Trading Down 0.5%

Shares of FDX stock traded down $1.05 on Friday, hitting $223.95. 1,888,309 shares of the company's stock traded hands, compared to its average volume of 1,854,095. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company's fifty day simple moving average is $216.82 and its 200 day simple moving average is $246.98. The stock has a market capitalization of $53.66 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.86 EPS. Equities analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.59%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is presently 36.39%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of analyst reports. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. BMO Capital Markets decreased their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Truist Financial decreased their target price on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $292.54.

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.