CIBC Private Wealth Group LLC Cuts Stake in FedEx Co. (NYSE:FDX)

CIBC Private Wealth Group LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,431 shares of the shipping service provider’s stock after selling 314 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in FedEx were worth $9,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FDX. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx in the 4th quarter worth $28,000. City Holding Co. purchased a new position in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FDX. Stifel Nicolaus reduced their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Stephens decreased their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Piper Sandler cut shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $302.71.

FedEx Trading Down 0.8 %

Shares of NYSE FDX opened at $241.86 on Wednesday. The company has a market cap of $57.95 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. 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 50 day moving average price is $255.30 and its 200-day moving average price is $270.28. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during 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%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. On average, equities research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx’s payout ratio is 34.63%.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred 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 $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by insiders.

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.