TD Waterhouse Canada Inc. cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 48.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,586 shares of the shipping service provider's stock after selling 13,480 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in FedEx were worth $4,106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the period. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. purchased a new stake in FedEx in the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at FedEx
In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.87% of the company's stock.
FedEx Stock Down 2.0 %
NYSE:FDX traded down $4.24 on Friday, reaching $211.45. The stock had a trading volume of 1,328,116 shares, compared to its average volume of 1,776,728. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The stock has a market cap of $50.66 billion, a P/E ratio of 13.48, 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. The company has a 50-day moving average of $233.47 and a 200 day moving average of $261.83.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business earned $3.86 EPS. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.61%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on FDX shares. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Piper Sandler cut shares of FedEx to a "neutral" rating in a report on Monday, February 3rd. Truist Financial lowered their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday. Finally, Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and decreased their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.
Check Out Our Latest Report on FedEx
About FedEx
(
Free Report)
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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