Truist Financial Corp Sells 1,454 Shares of FedEx Co. (NYSE:FDX)

Truist Financial Corp cut its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,741 shares of the shipping service provider's stock after selling 1,454 shares during the period. Truist Financial Corp's holdings in FedEx were worth $24,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in FedEx by 1.5% in the 3rd 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 acquiring an additional 67,502 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in 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 buying an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. boosted its position in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider's stock valued at $397,267,000 after buying an additional 13,093 shares during the period. Finally, Sentry LLC grew its stake in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider's stock worth $342,412,000 after acquiring an additional 5,404 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several research reports. Loop Capital downgraded shares of FedEx from a "buy" rating to a "hold" rating and dropped their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price target on shares of FedEx from $368.00 to $364.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, BNP Paribas upgraded FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $321.87.

FedEx Stock Down 5.4 %

Shares of NYSE:FDX traded down $14.45 during mid-day trading on Friday, hitting $254.01. 3,350,001 shares of the company traded hands, compared to its average volume of 1,666,183. The firm has a market cap of $61.18 billion, a P/E ratio of 16.12, a PEG ratio of 1.10 and a beta of 1.18. The firm's 50 day simple moving average is $271.34 and its 200 day simple moving average is $278.38. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

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 for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 EPS. On average, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of the company's stock in a transaction on Thursday, December 26th. The stock was purchased 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 directly owns 333 shares of the company's stock, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

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.