Federated Hermes Inc. Sells 16,310 Shares of FedEx Co. (NYSE:FDX)

Federated Hermes Inc. lessened its position in shares of FedEx Co. (NYSE:FDX) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,159 shares of the shipping service provider’s stock after selling 16,310 shares during the period. Federated Hermes Inc. owned approximately 0.11% of FedEx worth $71,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FDX. United Bank acquired a new stake in shares of FedEx in the 3rd quarter valued at $615,000. Janus Henderson Group PLC boosted its stake in FedEx by 1.9% in the third quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider’s stock valued at $7,280,000 after buying an additional 500 shares in the last quarter. Morse Asset Management Inc bought a new position in FedEx in the third quarter valued at about $465,000. Quantinno Capital Management LP grew its position in FedEx by 28.7% in the third quarter. Quantinno Capital Management LP now owns 14,567 shares of the shipping service provider’s stock valued at $3,987,000 after acquiring an additional 3,246 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in FedEx by 153.9% during the third quarter. EP Wealth Advisors LLC now owns 9,721 shares of the shipping service provider’s stock worth $2,660,000 after acquiring an additional 5,892 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $209.90 on Monday. 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 $203.27 and a 52 week high of $313.84. The firm has a 50 day moving average of $252.45 and a 200-day moving average of $268.75. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company 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 company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 earnings per share. On average, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.63%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 21st. TD Cowen lowered their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. UBS Group dropped their price target on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective on the stock. Finally, Citigroup cut their price target on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,711 shares of company stock valued at $3,312,693. 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.