FedEx Co. (NYSE:FDX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in FedEx Co. (NYSE:FDX) by 24.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,463,640 shares of the shipping service provider’s stock after selling 471,304 shares during the quarter. Legal & General Group Plc owned approximately 0.61% of FedEx worth $411,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx during the fourth quarter worth approximately $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FDX. UBS Group dropped their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a report on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Truist Financial began coverage on FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $302.71.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction 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 sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Trading Down 2.4 %

Shares of FDX stock opened at $205.13 on Tuesday. FedEx Co. has a fifty-two week low of $199.60 and a fifty-two week high of $313.84. The company has a 50 day moving average price of $250.91 and a 200 day moving average price of $268.08. The stock has a market capitalization of $49.15 billion, a P/E ratio of 13.07, 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.

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 the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.86 EPS. Equities research analysts predict that FedEx Co. will post 19.14 EPS 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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s payout ratio is presently 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.