Synovus Financial Corp Has $2.49 Million Position in FedEx Co. (NYSE:FDX)

Synovus Financial Corp lowered its stake in FedEx Co. (NYSE:FDX - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,855 shares of the shipping service provider's stock after selling 6,081 shares during the quarter. Synovus Financial Corp's holdings in FedEx were worth $2,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its position in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of several research reports. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Bank of America cut their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus reduced their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company 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 on the stock in a research note on Friday, March 21st. Finally, Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Two research 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 stock. According to data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $300.63.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of NYSE:FDX traded up $3.89 during trading on Friday, reaching $207.45. 1,106,975 shares of the stock were exchanged, compared to its average volume of 1,778,350. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a 50-day moving average price of $239.05 and a 200-day moving average price of $263.62. 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 firm has a market cap of $49.71 billion, a PE ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last released 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 net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm earned $3.86 earnings per share. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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