Fort Washington Investment Advisors Inc. OH Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Fort Washington Investment Advisors Inc. OH reduced its holdings in FedEx Co. (NYSE:FDX - Free Report) by 21.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,255 shares of the shipping service provider's stock after selling 30,346 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in FedEx were worth $27,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. bLong Financial LLC purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $391,000. Lodestone Wealth Management LLC purchased a new stake in FedEx in the 4th quarter worth $461,000. Kentucky Retirement Systems Insurance Trust Fund raised its position in FedEx by 57.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider's stock worth $2,965,000 after acquiring an additional 3,867 shares during the period. NBC Securities Inc. purchased a new position in FedEx during the first quarter valued at $147,000. Finally, Vontobel Holding Ltd. lifted its stake in FedEx by 4.6% in the 4th quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider's stock valued at $8,475,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price for the company. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and cut their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Raymond James decreased their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Truist Financial dropped their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $292.54.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is owned by insiders.

FedEx Stock Down 0.5%

Shares of FedEx stock traded down $1.05 during trading hours on Friday, hitting $223.95. The company had a trading volume of 1,888,309 shares, compared to its average volume of 1,854,095. The company's 50-day moving average is $216.82 and its two-hundred day moving average is $246.98. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. 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 company has a market cap of $53.66 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

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

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders 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 is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.59%. FedEx's dividend payout ratio (DPR) is 36.39%.

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.