MML Investors Services LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

MML Investors Services LLC decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,730 shares of the shipping service provider's stock after selling 2,815 shares during the quarter. MML Investors Services LLC's holdings in FedEx were worth $6,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FDX. MetLife Investment Management LLC lifted its holdings in FedEx by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 59,522 shares of the shipping service provider's stock worth $16,745,000 after buying an additional 903 shares during the period. Natixis lifted its stake in shares of FedEx by 1,061.1% in the 4th quarter. Natixis now owns 35,982 shares of the shipping service provider's stock valued at $10,123,000 after purchasing an additional 32,883 shares during the period. Norinchukin Bank The boosted its position in shares of FedEx by 12.5% during the fourth quarter. Norinchukin Bank The now owns 10,962 shares of the shipping service provider's stock valued at $3,084,000 after purchasing an additional 1,220 shares in the last quarter. Ossiam grew its stake in FedEx by 1,743.0% in the fourth quarter. Ossiam now owns 5,142 shares of the shipping service provider's stock worth $1,447,000 after purchasing an additional 4,863 shares during the period. Finally, Capital Research Global Investors purchased a new position in FedEx during the fourth quarter valued at $145,733,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FedEx stock opened at $215.74 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm's fifty day moving average price is $234.59 and its 200 day moving average price is $262.17. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth 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 posted its quarterly earnings data 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). The business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.86 earnings per share. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio (DPR) is 34.63%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of analyst reports. Truist Financial dropped their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday. BMO Capital Markets decreased their price objective on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Citigroup lowered their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

Insider Buying and Selling

In other 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 of the company's stock, 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 is accessible through this link. Corporate insiders own 8.87% of the company's stock.

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.

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