Fiduciary Trust Co Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Fiduciary Trust Co raised its stake in FedEx Co. (NYSE:FDX) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,443 shares of the shipping service provider’s stock after buying an additional 149 shares during the quarter. Fiduciary Trust Co’s holdings in FedEx were worth $969,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FDX. Fullcircle Wealth LLC increased its holdings in FedEx by 135.6% in the 4th quarter. Fullcircle Wealth LLC now owns 2,389 shares of the shipping service provider’s stock valued at $629,000 after purchasing an additional 1,375 shares during the last quarter. Deutsche Bank AG grew its stake in shares of FedEx by 13.0% in the fourth quarter. Deutsche Bank AG now owns 446,552 shares of the shipping service provider’s stock valued at $125,628,000 after buying an additional 51,311 shares in the last quarter. Collar Capital Management LLC purchased a new stake in shares of FedEx in the 4th quarter valued at $2,073,000. Colonial Trust Co SC lifted its stake in FedEx by 9.1% during the 4th quarter. Colonial Trust Co SC now owns 11,231 shares of the shipping service provider’s stock worth $3,160,000 after acquiring an additional 937 shares in the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in FedEx during the 4th quarter valued at about $1,620,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.7 %

FDX opened at $217.67 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The business’s 50 day moving average is $224.70 and its two-hundred day moving average is $258.02. The firm has a market cap of $52.15 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.54%. FedEx’s dividend payout ratio (DPR) is 34.63%.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent research reports. Bank of America cut 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 reduced 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. Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

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.