abrdn plc Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

abrdn plc reduced its stake in shares of FedEx Co. (NYSE:FDX) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,996 shares of the shipping service provider’s stock after selling 6,847 shares during the quarter. abrdn plc owned 0.05% of FedEx worth $34,328,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. F&V Capital Management LLC grew its stake in FedEx by 0.7% during the 4th quarter. F&V Capital Management LLC now owns 63,942 shares of the shipping service provider’s stock valued at $17,989,000 after purchasing an additional 425 shares in the last quarter. Hodges Capital Management Inc. grew its stake in FedEx by 0.5% during the 4th quarter. Hodges Capital Management Inc. now owns 11,321 shares of the shipping service provider’s stock valued at $3,185,000 after purchasing an additional 56 shares in the last quarter. Catalina Capital Group LLC grew its stake in FedEx by 9.9% during the 4th quarter. Catalina Capital Group LLC now owns 810 shares of the shipping service provider’s stock valued at $228,000 after purchasing an additional 73 shares in the last quarter. Lynch Asset Management Inc. grew its stake in FedEx by 1.4% during the 4th quarter. Lynch Asset Management Inc. now owns 17,550 shares of the shipping service provider’s stock valued at $4,937,000 after purchasing an additional 250 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in FedEx by 17.2% during the 4th quarter. HHM Wealth Advisors LLC now owns 544 shares of the shipping service provider’s stock valued at $153,000 after purchasing an additional 80 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Up 0.7 %

Shares of FedEx stock opened at $252.62 on Thursday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business’s fifty day moving average price is $277.43 and its two-hundred day moving average price is $281.22. The company has a market capitalization of $60.84 billion, a P/E ratio of 16.10, a PEG ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. UBS Group lifted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Transactions at FedEx

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

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.