Evergreen Capital Management LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Evergreen Capital Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 38,438 shares of the shipping service provider's stock after selling 1,616 shares during the period. Evergreen Capital Management LLC's holdings in FedEx were worth $10,866,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Fortitude Family Office LLC lifted its stake 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 worth $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new stake in FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. acquired a new position in FedEx during the 4th quarter worth approximately $28,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FDX shares. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective on the stock. Bank of America dropped their target price on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a report on Friday, March 21st. Piper Sandler cut FedEx to a "neutral" rating in a report on Monday, February 3rd. Finally, Citigroup reduced their price objective on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment 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, the company currently has an average rating of "Moderate Buy" and an average price target of $300.63.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Down 2.4 %

Shares of FDX traded down $4.96 during mid-day trading on Monday, reaching $202.59. The company had a trading volume of 197,327 shares, compared to its average volume of 1,772,238. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The firm has a fifty day simple moving average of $239.05 and a 200-day simple moving average of $263.62. The stock has a market cap of $48.54 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly 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). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is currently 34.63%.

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.