CoreCap Advisors LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

CoreCap Advisors LLC reduced its position in FedEx Co. (NYSE:FDX) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 705 shares of the shipping service provider’s stock after selling 104 shares during the period. CoreCap Advisors LLC’s holdings in FedEx were worth $198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Norges Bank purchased a new stake in FedEx in the 4th quarter worth approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at $234,028,000. Dodge & Cox grew its stake in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after buying an additional 734,268 shares during the period. Capital Research Global Investors purchased a new stake in shares of FedEx during the 4th quarter valued at $145,733,000. Finally, ACR Alpine Capital Research LLC grew its stake in shares of FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after buying an additional 329,170 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several research reports. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Stifel Nicolaus lowered their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and lowered their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have issued 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

FedEx Stock Performance

Shares of FDX stock opened at $217.67 on Monday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $52.15 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.11 and a beta of 1.36. The company’s fifty day moving average price is $224.70 and its two-hundred day moving average price is $257.92.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued 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 2.54%. FedEx’s dividend payout ratio is currently 34.63%.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the company’s 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.