BI Asset Management Fondsmaeglerselskab A S Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in FedEx Co. (NYSE:FDX - Free Report) by 49.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,066 shares of the shipping service provider's stock after selling 8,911 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in FedEx were worth $2,551,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of FedEx in the third quarter worth approximately $465,000. Virtu Financial LLC purchased a new position in FedEx in the third quarter worth $3,405,000. Aldebaran Financial Inc. increased its stake in FedEx by 8.7% in the third quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider's stock valued at $307,000 after acquiring an additional 90 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in FedEx by 4.2% during the third quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider's stock worth $513,000 after purchasing an additional 76 shares during the last quarter. Finally, Tudor Financial Inc. purchased a new position in shares of FedEx in the 3rd quarter worth about $282,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Down 2.0 %

FDX stock traded down $4.24 during midday trading on Friday, hitting $211.45. The stock had a trading volume of 1,328,116 shares, compared to its average volume of 1,776,728. The business has a 50-day moving average of $233.47 and a two-hundred day moving average of $261.83. 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 cap of $50.66 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the business earned $3.86 earnings per share. The firm's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.61%. FedEx's dividend payout ratio is currently 34.63%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FDX. Piper Sandler lowered FedEx to a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. BMO Capital Markets lowered their price target on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and reduced their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, Barclays lowered their target price on FedEx from $365.00 to $350.00 and set an "overweight" 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $297.71.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by company insiders.

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.