Atria Investments Inc Lowers Holdings in FedEx Co. (NYSE:FDX)

Atria Investments Inc trimmed its holdings in FedEx Co. (NYSE:FDX) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,864 shares of the shipping service provider’s stock after selling 5,324 shares during the period. Atria Investments Inc’s holdings in FedEx were worth $8,402,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its position 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 acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in FedEx in the fourth quarter worth approximately $28,000. City Holding Co. purchased a new position in FedEx in the fourth quarter worth approximately $28,000. Kentucky Trust Co purchased a new position in FedEx in the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management purchased a new position in FedEx in the fourth quarter worth approximately $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $250.64 on Thursday. The stock’s 50-day moving average is $267.66 and its two-hundred day moving average is $276.69. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1 year low of $242.92 and a 1 year high of $313.84. 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 (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.99 earnings per share. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FDX. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Stephens lowered their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $319.74.

FedEx 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.