Appaloosa LP Reduces Holdings in FedEx Co. (NYSE:FDX)

Appaloosa LP decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 6.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 350,000 shares of the shipping service provider’s stock after selling 25,000 shares during the period. FedEx makes up approximately 1.5% of Appaloosa LP’s investment portfolio, making the stock its 19th largest holding. Appaloosa LP owned 0.15% of FedEx worth $98,466,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FDX. Skandinaviska Enskilda Banken AB publ boosted its position in FedEx by 1.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 47,751 shares of the shipping service provider’s stock valued at $13,397,000 after buying an additional 504 shares during the last quarter. Achmea Investment Management B.V. boosted its position in FedEx by 69.9% in the fourth quarter. Achmea Investment Management B.V. now owns 32,546 shares of the shipping service provider’s stock valued at $9,156,000 after buying an additional 13,388 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in FedEx by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 14,835 shares of the shipping service provider’s stock valued at $4,174,000 after buying an additional 166 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $251,000. Finally, Farther Finance Advisors LLC boosted its position in FedEx by 4.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,742 shares of the shipping service provider’s stock valued at $490,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Bank of America upped their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Stock Up 0.3 %

NYSE FDX opened at $243.66 on Thursday. The business has a fifty day moving average price of $264.35 and a 200 day moving average price of $275.13. FedEx Co. has a one year low of $239.50 and a one 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. The company has a market cap of $58.69 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the company earned $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insiders Place Their Bets

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Company 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.