Allspring Global Investments Holdings LLC Has $3.23 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Allspring Global Investments Holdings LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 61.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,782 shares of the shipping service provider's stock after selling 18,597 shares during the period. Allspring Global Investments Holdings LLC's holdings in FedEx were worth $3,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. acquired a new position in FedEx during the fourth quarter worth $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX traded down $14.49 during trading hours on Friday, reaching $253.97. 4,329,771 shares of the company's stock traded hands, compared to its average volume of 1,697,695. The business's fifty day simple moving average is $271.34 and its two-hundred day simple moving average is $278.38. 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 $61.17 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.10 and a beta of 1.18. FedEx Co. has a twelve month low of $239.07 and a twelve month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the firm posted $3.99 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. FedEx's dividend payout ratio is 35.18%.

Insider Activity at FedEx

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. Raymond James raised their target price on shares of FedEx from $305.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, December 20th. StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Wells Fargo & Company boosted their price target on FedEx from $305.00 to $320.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $321.87.

FedEx Company 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.