M&T Bank Corp Decreases Position in FedEx Co. (NYSE:FDX)

M&T Bank Corp cut its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,262 shares of the shipping service provider's stock after selling 3,955 shares during the period. M&T Bank Corp owned 0.06% of FedEx worth $38,898,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider's stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the period. Franklin Resources Inc. grew its position in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider's stock worth $465,031,000 after purchasing an additional 11,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in FedEx by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider's stock valued at $422,202,000 after buying an additional 49,160 shares in the last quarter. Finally, Sentry LLC boosted its holdings in FedEx by 0.4% in the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider's stock worth $342,412,000 after buying an additional 5,404 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Piper Sandler cut shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $372.00 to $323.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Bank of America raised their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $319.74.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

FedEx Stock Up 1.2 %

FedEx stock traded up $2.90 during mid-day trading on Wednesday, hitting $250.64. The company had a trading volume of 1,368,019 shares, compared to its average volume of 1,658,758. The stock has a market cap of $60.37 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.11 and a beta of 1.23. 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 Co. has a 1 year low of $242.92 and a 1 year high of $313.84. The business has a fifty day moving average of $267.66 and a 200 day moving average of $276.69.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.99 earnings per share. On average, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio is currently 35.18%.

FedEx Company 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.