Ceredex Value Advisors LLC Sells 285,208 Shares of FedEx Co. (NYSE:FDX)

Ceredex Value Advisors LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 77.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,899 shares of the shipping service provider’s stock after selling 285,208 shares during the period. Ceredex Value Advisors LLC’s holdings in FedEx were worth $23,322,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. bLong Financial LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $391,000. Virtu Financial LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $3,405,000. Lodestone Wealth Management LLC acquired a new position in FedEx during the fourth quarter worth $461,000. Wedmont Private Capital raised its position in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC bought a new position in shares of FedEx in the 4th quarter valued at about $26,855,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FDX shares. Wells Fargo & Company cut their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Bank of America decreased their price target on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. UBS Group lowered their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Barclays lowered their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.63.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred 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 sale, 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 at the SEC website. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock opened at $207.36 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The business has a 50-day simple moving average of $242.19 and a 200 day simple moving average of $264.94. The firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.66%. FedEx’s dividend payout ratio (DPR) is 34.63%.

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.