FourThought Financial Partners LLC Purchases New Position in FedEx Co. (NYSE:FDX)

FourThought Financial Partners LLC bought a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,053 shares of the shipping service provider’s stock, valued at approximately $1,140,000.

A number of other hedge funds have also recently bought and sold shares of FDX. Geode Capital Management LLC grew its stake in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares during the period. Franklin Resources Inc. grew its holdings in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the period. Finally, Sentry LLC grew its position in FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after acquiring an additional 5,404 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FDX shares. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and dropped their target price for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Down 0.5 %

FDX stock opened at $252.94 on Tuesday. The firm has a market capitalization of $60.92 billion, a PE ratio of 16.12, a PEG ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The business’s 50 day simple moving average is $270.14 and its 200 day simple moving average is $277.95.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

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.