FedEx Co. (NYSE:FDX) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. lowered its stake in FedEx Co. (NYSE:FDX) by 91.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,910 shares of the shipping service provider’s stock after selling 132,703 shares during the quarter. FedEx comprises 0.1% of Value Partners Investments Inc.’s portfolio, making the stock its 20th largest position. Value Partners Investments Inc.’s holdings in FedEx were worth $3,351,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of FedEx during the third quarter worth about $465,000. Virtu Financial LLC bought a new position in FedEx during the 3rd quarter worth approximately $3,405,000. Aldebaran Financial Inc. grew its position in shares of FedEx by 8.7% in the 3rd quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider’s stock worth $307,000 after acquiring an additional 90 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of FedEx by 4.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $513,000 after acquiring an additional 76 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new stake in shares of FedEx during the 3rd quarter valued at approximately $282,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

FDX stock opened at $207.46 on Monday. The company has a market capitalization of $49.71 billion, a P/E ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The company has a fifty day moving average price of $244.07 and a 200-day moving average price of $265.74. 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 Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets dropped their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Piper Sandler cut shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Cfra Research raised FedEx to a “hold” rating in a report on Thursday, March 20th. UBS Group cut their price target on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Raymond James lowered their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given 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 a consensus target price of $300.63.

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.