FedEx Co. (NYSE:FDX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,228 shares of the shipping service provider’s stock after selling 485 shares during the period. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $3,440,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bryn Mawr Capital Management LLC raised its holdings in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after acquiring an additional 321,141 shares during the period. Franklin Resources Inc. grew its position in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. KBC Group NV raised its stake in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the period. World Investment Advisors LLC lifted its holdings in shares of FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of FedEx in the fourth quarter worth $49,445,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FDX. Barclays upped their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets upped their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Price Performance

NYSE FDX opened at $263.11 on Friday. FedEx Co. has a 1 year low of $242.92 and a 1 year high of $313.84. The company has a fifty day simple moving average of $268.78 and a 200 day simple moving average of $277.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $63.37 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.99 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

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.