Staley Capital Advisers Inc. Sells 3,530 Shares of FedEx Co. (NYSE:FDX)

Staley Capital Advisers Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,703 shares of the shipping service provider's stock after selling 3,530 shares during the quarter. FedEx accounts for about 3.0% of Staley Capital Advisers Inc.'s portfolio, making the stock its 10th largest position. Staley Capital Advisers Inc. owned approximately 0.10% of FedEx worth $68,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter valued at about $28,000. Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new stake in FedEx during the 4th quarter valued at about $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on FDX shares. Bank of America boosted their price target on FedEx from $325.00 to $348.00 and gave the company a "buy" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their price target on FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Truist Financial began coverage on FedEx in a research note on Thursday. They set a "buy" rating and a $305.00 price target on the stock. Finally, Piper Sandler cut FedEx to a "neutral" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $318.04.

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FedEx Trading Down 1.1 %

FedEx stock traded down $2.77 during mid-day trading on Thursday, hitting $240.74. The company's stock had a trading volume of 1,565,412 shares, compared to its average volume of 1,667,332. The firm has a market capitalization of $57.98 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1 year low of $239.50 and a 1 year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock's fifty day moving average is $263.68 and its two-hundred day moving average is $274.89.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx's dividend payout ratio is currently 35.18%.

Insider Transactions at FedEx

In related news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company's stock.

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.