FedEx Co. (NYSE:FDX) Stock Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in FedEx Co. (NYSE:FDX - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 255,159 shares of the shipping service provider's stock after selling 16,310 shares during the quarter. Federated Hermes Inc. owned about 0.11% of FedEx worth $71,784,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the period. Geode Capital Management LLC boosted its position in FedEx by 2.3% in the 4th 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 buying an additional 109,006 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Norges Bank acquired a new position in shares of FedEx in the fourth quarter worth about $807,352,000. Finally, Mawer Investment Management Ltd. boosted its holdings in FedEx by 5.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider's stock valued at $664,447,000 after purchasing an additional 130,044 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

FDX has been the topic of several analyst reports. UBS Group dropped their price objective on FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and cut their price target for the company from $300.00 to $275.00 in a report on Monday, March 24th. Raymond James decreased their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wells Fargo & Company cut their target price on shares of FedEx from $275.00 to $260.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Finally, Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $300.63.

FedEx Price Performance

FDX traded up $1.06 on Friday, reaching $207.46. The company had a trading volume of 2,196,102 shares, compared to its average volume of 1,775,964. The company has a fifty day moving average of $244.07 and a 200-day moving average of $265.74. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $49.71 billion, a P/E ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. FedEx Co. has a one year low of $194.30 and a one year 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 analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.86 earnings per share. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company's stock.

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.