Mmbg Investment Advisors CO. Lowers Position in FedEx Co. (NYSE:FDX)

Mmbg Investment Advisors CO. cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 31.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,839 shares of the shipping service provider's stock after selling 6,330 shares during the quarter. Mmbg Investment Advisors CO.'s holdings in FedEx were worth $3,893,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FDX. bLong Financial LLC purchased a new position in FedEx in the fourth quarter valued at about $391,000. Lodestone Wealth Management LLC acquired a new position in FedEx in the 4th quarter valued at $461,000. Wedmont Private Capital raised its stake in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock worth $631,000 after acquiring an additional 91 shares in the last quarter. GFS Advisors LLC bought a new position in FedEx during the fourth quarter worth about $26,855,000. Finally, Persium Advisors LLC bought a new position in FedEx in the fourth quarter valued at approximately $530,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

FedEx stock opened at $217.67 on Monday. The stock has a market capitalization of $52.15 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.11 and a beta of 1.36. 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 52-week low of $194.30 and a 52-week high of $313.84. The stock's 50 day moving average price is $224.70 and its two-hundred day moving average price is $257.92.

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 for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.86 earnings per share. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FDX. JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. BMO Capital Markets reduced their price objective on FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research note on Friday, March 21st. Truist Financial reduced their price objective on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stephens lowered their target price on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Wells Fargo & Company decreased their price target on FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $297.71.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.87% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.