Rathbones Group PLC Decreases Position in FedEx Corporation $FDX

Rathbones Group PLC lowered its stake in FedEx Corporation (NYSE:FDX) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,813 shares of the shipping service provider’s stock after selling 1,673 shares during the quarter. Rathbones Group PLC’s holdings in FedEx were worth $7,769,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Ferguson Wellman Capital Management Inc. grew its position in FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after acquiring an additional 26 shares in the last quarter. OneAscent Financial Services LLC lifted its position in shares of FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after purchasing an additional 29 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after purchasing an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC grew its holdings in FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 30 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. Weiss Ratings cut shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. UBS Group dropped their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Raymond James Financial cut their price target on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 24th. Truist Financial reduced their price target on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Finally, Rothschild & Co Redburn lowered their price objective on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Price Performance

Shares of FDX stock opened at $309.25 on Tuesday. The firm has a fifty day moving average of $326.98 and a two-hundred day moving average of $350.42. The firm has a market cap of $73.17 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.58 and a beta of 1.30. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.