Trek Financial LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Trek Financial LLC cut its position in FedEx Co. (NYSE:FDX - Free Report) by 77.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,944 shares of the shipping service provider's stock after selling 9,996 shares during the quarter. Trek Financial LLC's holdings in FedEx were worth $828,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cetera Trust Company N.A increased its position in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after buying an additional 40 shares in the last quarter. Aviso Financial Inc. lifted its holdings in shares of FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after acquiring an additional 40 shares during the last quarter. Richard P Slaughter Associates Inc increased its stake in FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider's stock valued at $2,281,000 after acquiring an additional 42 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its position in FedEx by 2.6% during the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock valued at $473,000 after purchasing an additional 42 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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FedEx Stock Up 0.5 %

Shares of NYSE:FDX traded up $1.06 during midday trading on Friday, reaching $207.46. The company's stock had a trading volume of 2,196,102 shares, compared to its average volume of 1,775,964. 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 firm has a 50 day moving average of $244.07 and a 200-day moving average of $265.74. The firm 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 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results 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). The business 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%. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 EPS. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

Insider Transactions at FedEx

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

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. Bank of America reduced their price objective on FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and lowered their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They set a "buy" rating and a $305.00 target price on the stock. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and lowered their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. reduced their price objective on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $300.63.

FedEx 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.