Mercer Global Advisors Inc. ADV Sells 4,836 Shares of FedEx Co. (NYSE:FDX)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,217 shares of the shipping service provider's stock after selling 4,836 shares during the period. Mercer Global Advisors Inc. ADV's holdings in FedEx were worth $20,598,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Dodge & Cox raised its stake in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC lifted its holdings in FedEx by 2.3% in the 4th 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 purchasing an additional 109,006 shares in the last quarter. Franklin Resources Inc. grew its stake in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after acquiring an additional 323,115 shares during the period. Finally, Invesco Ltd. grew its position in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after purchasing an additional 127,044 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FDX traded down $2.73 on Monday, reaching $216.99. The company had a trading volume of 1,261,670 shares, compared to its average volume of 1,789,528. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average of $228.72 and a 200-day moving average of $259.81. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a market capitalization of $51.99 billion, a P/E ratio of 13.83, a PEG ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James dropped their price target on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Truist Financial cut 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. TD Cowen reduced their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Barclays reduced their price target on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.87% of the company's stock.

FedEx Company 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.