42,110 Shares in FedEx Co. (NYSE:FDX) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in shares of FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,110 shares of the shipping service provider's stock, valued at approximately $11,847,000.

Other large investors have also recently added to or reduced their stakes in the company. WESCAP Management Group Inc. grew its holdings in shares of FedEx by 29.6% during the fourth quarter. WESCAP Management Group Inc. now owns 2,192 shares of the shipping service provider's stock valued at $617,000 after purchasing an additional 500 shares during the last quarter. Huntington National Bank boosted its position in FedEx by 31.0% during the 4th quarter. Huntington National Bank now owns 17,669 shares of the shipping service provider's stock valued at $4,971,000 after purchasing an additional 4,179 shares during the period. Meeder Advisory Services Inc. grew its stake in FedEx by 2.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 6,446 shares of the shipping service provider's stock worth $1,813,000 after buying an additional 129 shares during the last quarter. Headlands Technologies LLC bought a new stake in FedEx in the fourth quarter valued at $1,691,000. Finally, Geode Capital Management LLC boosted its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred 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 sale, the chief executive officer now owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 in the last ninety days. Insiders own 8.87% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and decreased their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. UBS Group dropped their target price on FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Piper Sandler lowered FedEx to a "neutral" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on FedEx from $275.00 to $260.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $302.71.

FedEx Stock Performance

Shares of NYSE:FDX traded down $5.96 during midday trading on Friday, hitting $209.90. The company's stock had a trading volume of 3,618,525 shares, compared to its average volume of 1,754,835. FedEx Co. has a fifty-two week low of $203.90 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The stock's 50 day simple moving average is $252.45 and its 200 day simple moving average is $268.95.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.63%. FedEx's dividend payout ratio is 34.63%.

About FedEx

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.