LSV Asset Management Sells 61,450 Shares of FedEx Co. (NYSE:FDX)

LSV Asset Management lessened its holdings in FedEx Co. (NYSE:FDX) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,221,680 shares of the shipping service provider’s stock after selling 61,450 shares during the period. FedEx comprises 0.8% of LSV Asset Management’s investment portfolio, making the stock its 25th biggest holding. LSV Asset Management owned 0.51% of FedEx worth $343,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Geode Capital Management LLC increased its stake in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after buying an additional 109,006 shares during the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after buying an additional 323,115 shares during the last quarter. Invesco Ltd. grew its position in shares of FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after acquiring an additional 127,044 shares during the period. Finally, Norges Bank bought a new position in shares of FedEx during the 4th quarter valued at approximately $807,352,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $217.96 on Thursday. The firm has a fifty day simple moving average of $245.77 and a two-hundred day simple moving average of $266.56. The stock has a market capitalization of $52.22 billion, a P/E ratio of 13.89, a PEG ratio of 1.11 and a beta of 1.24. 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.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the business earned $3.86 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.53%. FedEx’s dividend payout ratio is currently 34.63%.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were 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 owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were 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 owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company reduced 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 report on Friday, March 21st. Truist Financial assumed coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price for the company. Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, BMO Capital Markets cut their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

FedEx 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.