Delta Asset Management LLC TN Sells 2,426 Shares of FedEx Co. (NYSE:FDX)

Delta Asset Management LLC TN reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,460 shares of the shipping service provider’s stock after selling 2,426 shares during the quarter. Delta Asset Management LLC TN’s holdings in FedEx were worth $2,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. Raymond James Financial Inc. purchased a new position in shares of FedEx in the 4th quarter worth about $234,028,000. ACR Alpine Capital Research LLC raised its position in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after acquiring an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC boosted its stake in FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after acquiring an additional 321,141 shares during the last quarter. Franklin Resources Inc. grew its position in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares during the period. Finally, KBC Group NV increased its stake in shares of FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FDX. Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price for the company. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. BMO Capital Markets dropped their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Raymond James reduced their target price 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. Finally, Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.60.

FedEx Trading Up 1.1 %

NYSE FDX opened at $243.78 on Thursday. The stock’s 50-day simple moving average is $257.92 and its two-hundred day simple moving average is $271.55. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $58.72 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 the consensus estimate 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 previous year, the firm earned $3.86 EPS. Research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 34.63%.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

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.