FedEx Co. (NYSE:FDX) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its position in FedEx Co. (NYSE:FDX - Free Report) by 40.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,178 shares of the shipping service provider's stock after selling 31,796 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in FedEx were worth $12,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of FedEx in the fourth quarter worth about $807,352,000. Raymond James Financial Inc. bought a new stake in FedEx in the fourth quarter valued at $234,028,000. ACR Alpine Capital Research LLC boosted its stake 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 purchasing an additional 329,170 shares in the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after purchasing an additional 323,115 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC grew its holdings in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock valued at $90,751,000 after buying an additional 321,141 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FDX. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Stephens lowered their target price on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Citigroup dropped their price target on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their price target on FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They set a "buy" rating and a $305.00 target price for the company. Two equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $300.63.

FedEx Stock Down 2.3 %

Shares of FDX traded down $4.85 during midday trading on Monday, hitting $202.70. 112,788 shares of the company's stock traded hands, compared to its average volume of 1,771,815. The firm's fifty day moving average is $239.05 and its 200-day moving average is $263.62. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last released 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same period in the prior year, the firm posted $3.86 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued 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 Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated 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 $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.