Federated Hermes Inc. Sells 32,444 Shares of FedEx Corporation (NYSE:FDX)

Federated Hermes Inc. reduced its stake in shares of FedEx Corporation (NYSE:FDX) by 12.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,715 shares of the shipping service provider’s stock after selling 32,444 shares during the quarter. Federated Hermes Inc. owned about 0.09% of FedEx worth $54,293,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in FedEx in the fourth quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new position in FedEx in the fourth quarter worth approximately $35,000. Optiver Holding B.V. bought a new position in FedEx in the fourth quarter worth approximately $39,000. Finally, Abound Financial LLC bought a new position in FedEx in the first quarter worth approximately $38,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director owned 15,513 shares of the company’s stock, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the transaction, the director directly owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock valued at $2,228,816 over the last quarter. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $224.07 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The company has a market capitalization of $52.86 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.22 and a beta of 1.35. The company’s 50 day simple moving average is $227.75 and its 200 day simple moving average is $236.25. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the firm posted $5.41 earnings per share. On average, sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. The ex-dividend date was Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is currently 34.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen raised FedEx from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Truist Financial restated a “buy” rating and set a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. JPMorgan Chase & Co. upped their target price on FedEx from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. UBS Group lowered their target price on FedEx from $311.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Finally, Citigroup upped their target price on FedEx from $259.00 to $278.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued 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 $283.25.

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.