Mariner LLC Trims Stock Position in FedEx Co. (NYSE:FDX)

Mariner LLC reduced its stake in FedEx Co. (NYSE:FDX - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,031 shares of the shipping service provider's stock after selling 1,562 shares during the period. Mariner LLC's holdings in FedEx were worth $28,704,000 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 FDX. Vanguard Group Inc. grew its position in shares of FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares in the last quarter. Franklin Resources Inc. increased its position in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Invesco Ltd. raised its stake in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after purchasing an additional 127,044 shares during the last quarter. Finally, Norges Bank purchased a new position in FedEx during the 4th quarter worth $807,352,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FDX stock traded down $4.81 during trading on Monday, hitting $202.74. 151,919 shares of the company traded hands, compared to its average volume of 1,772,007. The company has a market cap of $48.58 billion, a PE ratio of 12.92, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The stock's 50-day simple moving average is $239.05 and its 200 day simple moving average is $263.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 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 for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the business posted $3.86 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is presently 34.63%.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. BMO Capital Markets cut their price target on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Piper Sandler lowered FedEx to a "neutral" rating in a report on Monday, February 3rd. Bank of America dropped their price target on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research note on Friday, March 21st. UBS Group decreased their target price on shares of FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Barclays cut their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.63.

About FedEx

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.