Hancock Whitney Corp Decreases Stake in FedEx Co. (NYSE:FDX)

Hancock Whitney Corp lowered its position in FedEx Co. (NYSE:FDX - Free Report) by 58.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,905 shares of the shipping service provider's stock after selling 28,133 shares during the period. Hancock Whitney Corp's holdings in FedEx were worth $5,600,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in FedEx during the fourth quarter worth approximately $807,352,000. Raymond James Financial Inc. acquired a new position in shares of FedEx during the 4th quarter worth approximately $234,028,000. Dodge & Cox lifted its position in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Capital Research Global Investors acquired a new stake in FedEx in the 4th quarter valued at $145,733,000. Finally, ACR Alpine Capital Research LLC increased its holdings in FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock worth $239,909,000 after acquiring an additional 329,170 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their price target on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, UBS Group reduced their price objective on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.

FedEx Trading Down 2.0 %

Shares of FDX traded down $4.24 during trading on Friday, reaching $211.45. 1,328,116 shares of the company traded hands, compared to its average volume of 1,780,013. The stock has a 50-day simple moving average of $233.47 and a 200-day simple moving average of $261.81. The stock has a market cap of $50.66 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a twelve month low of $194.30 and a twelve month 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.

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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business posted $3.86 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid 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 payout ratio is 34.63%.

Insider Activity at FedEx

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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.87% of the stock is currently owned by company insiders.

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.