FedEx Co. (NYSE:FDX) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 43.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,693 shares of the shipping service provider's stock after selling 7,534 shares during the quarter. Pinebridge Investments L.P.'s holdings in FedEx were worth $2,727,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Transce3nd LLC purchased a new stake in FedEx during the fourth quarter worth $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx in the fourth quarter valued at $28,000. City Holding Co. purchased a new position in shares of FedEx in the fourth quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FDX. Stifel Nicolaus dropped their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a report on Friday, March 21st. Piper Sandler lowered FedEx to a "neutral" rating in a research note on Monday, February 3rd. Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Stephens decreased their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, BNP Paribas raised shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $297.71.

Insider Activity

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 completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $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 is available through this link. Company insiders own 8.87% of the company's stock.

FedEx Stock Up 0.2 %

Shares of FDX stock traded up $0.49 during trading hours on Wednesday, reaching $210.34. The company had a trading volume of 1,278,798 shares, compared to its average volume of 1,779,770. The stock's fifty day simple moving average is $231.19 and its 200 day simple moving average is $261.06. The company has a market capitalization of $50.40 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 twelve month low of $194.30 and a twelve month high of $313.84.

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

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.

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.