Picton Mahoney Asset Management Has $1.75 Million Holdings in FedEx Co. (NYSE:FDX)

Picton Mahoney Asset Management cut its holdings in shares of FedEx Co. (NYSE:FDX) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,214 shares of the shipping service provider’s stock after selling 375 shares during the period. Picton Mahoney Asset Management’s holdings in FedEx were worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. bLong Financial LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx in the 3rd quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $461,000. Wedmont Private Capital raised its position in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $26,855,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $242.27 on Friday. FedEx Co. has a 1-year low of $239.50 and a 1-year high of $313.84. 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 firm has a fifty day simple moving average of $263.04 and a 200 day simple moving average of $274.37. The stock has a market capitalization of $58.35 billion, a PE ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its earnings results 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business earned $3.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

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 issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of analyst reports. Stephens cut 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. BMO Capital Markets raised their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. TD Cowen raised their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Truist Financial initiated coverage on shares of FedEx in a report on Thursday. They set a “buy” rating and a $305.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

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.