Price T Rowe Associates Inc. MD decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 73.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 684,590 shares of the shipping service provider's stock after selling 1,864,664 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.28% of FedEx worth $192,596,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% during the fourth 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 acquired a new stake in FedEx in the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new position in shares of FedEx during the fourth quarter worth approximately $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx in the 4th quarter worth $28,000. Institutional investors own 84.47% of the company's stock.
Insider Buying and Selling at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was 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 represents a 20.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 8.87% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
FDX has been the subject of a number of analyst reports. Stephens reduced their price objective on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Raymond James decreased their price objective 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. Bank of America reduced their target price on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler lowered FedEx to a "neutral" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $297.71.
Read Our Latest Analysis on FDX
FedEx Trading Up 4.8 %
Shares of NYSE FDX traded up $10.09 during trading hours on Friday, reaching $220.15. The stock had a trading volume of 1,051,803 shares, compared to its average volume of 1,875,431. FedEx Co. has a 52-week low of $194.29 and a 52-week high of $313.84. The firm has a market cap of $52.75 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.24. The business's fifty day moving average price is $229.46 and its two-hundred day moving average price is $260.32. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.
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 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 firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same period in the previous year, the firm earned $3.86 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.51%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is currently 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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