OneDigital Investment Advisors LLC lessened its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 40.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,537 shares of the shipping service provider's stock after selling 2,363 shares during the period. OneDigital Investment Advisors LLC's holdings in FedEx were worth $995,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of FDX. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $26,000. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in FedEx during the 4th quarter valued at $28,000. Finally, Kentucky Trust Co bought a new position in FedEx in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and decreased their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Piper Sandler cut FedEx to a "neutral" rating in a research note on Monday, February 3rd. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Finally, Raymond James decreased their price target on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $297.71.
Check Out Our Latest Stock Report on FedEx
Insider Activity
In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.87% of the company's stock.
FedEx Stock Performance
FedEx stock traded down $1.35 during trading on Thursday, reaching $208.98. The company had a trading volume of 301,104 shares, compared to its average volume of 1,777,649. The firm has a market capitalization of $50.07 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 firm's 50-day simple moving average is $230.32 and its 200 day simple moving average is $260.71. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last posted 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company 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 firm earned $3.86 earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
FedEx Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.64%. FedEx's payout ratio is presently 34.63%.
About FedEx
(
Free Report)
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.
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