FedEx Co. (NYSE:FDX) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 25.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,416 shares of the shipping service provider's stock after selling 48,660 shares during the quarter. First Trust Advisors LP owned about 0.06% of FedEx worth $39,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Morse Asset Management Inc acquired a new position in shares of FedEx in the third quarter valued at about $465,000. Virtu Financial LLC acquired a new position in FedEx in the 3rd quarter worth approximately $3,405,000. Aldebaran Financial Inc. raised its position in FedEx by 8.7% during the 3rd quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider's stock worth $307,000 after buying an additional 90 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in FedEx by 4.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider's stock valued at $513,000 after acquiring an additional 76 shares during the period. Finally, Tudor Financial Inc. acquired a new stake in shares of FedEx in the third quarter worth $282,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Up 2.2 %

Shares of FDX opened at $215.74 on Friday. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $234.59 and a two-hundred day simple moving average of $262.17. The company has a market capitalization of $51.69 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $3.86 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is presently 34.63%.

Analyst Upgrades and Downgrades

Several research firms have commented on FDX. JPMorgan Chase & Co. lowered their price target 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. Piper Sandler cut FedEx to a "neutral" rating in a research report on Monday, February 3rd. UBS Group lowered their price objective on FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Citigroup decreased their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Stephens dropped their price target on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average price target of $297.71.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the 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 transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.

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