Rockefeller Capital Management L.P. Cuts Position in FedEx Co. (NYSE:FDX)

Rockefeller Capital Management L.P. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 40.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,178 shares of the shipping service provider’s stock after selling 31,796 shares during the period. Rockefeller Capital Management L.P.’s holdings in FedEx were worth $12,993,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FDX. Fortitude Family Office LLC raised its stake in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. purchased a new position in shares of FedEx in the 4th quarter worth about $28,000. Kentucky Trust Co bought a new position in FedEx in the 4th quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the 4th quarter valued at about $28,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FDX. Cfra Research raised shares of FedEx to a “hold” rating in a report on Thursday, March 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Stifel Nicolaus reduced their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

FedEx Stock Down 1.5 %

FDX opened at $207.36 on Wednesday. The stock has a market cap of $49.68 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm’s fifty day moving average is $242.19 and its 200 day moving average is $264.94. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.86 earnings per share. On average, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Monday, March 10th. FedEx’s payout ratio is currently 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.