Voya Investment Management LLC Cuts Stock Position in FedEx Co. (NYSE:FDX)

Voya Investment Management LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 367,486 shares of the shipping service provider's stock after selling 245,906 shares during the quarter. Voya Investment Management LLC owned approximately 0.15% of FedEx worth $103,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Regal Investment Advisors LLC increased its holdings in FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after buying an additional 38 shares during the last quarter. Cetera Trust Company N.A raised its holdings in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after purchasing an additional 40 shares during the period. Griffin Asset Management Inc. lifted its stake in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. grew its holdings in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after purchasing an additional 40 shares during the period. Finally, Garner Asset Management Corp raised its stake in shares of FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after buying an additional 41 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.87% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FDX shares. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, January 16th. Barclays dropped their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Truist Financial reduced their price target on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

FedEx Stock Down 0.0 %

FDX stock traded down $0.08 during trading on Monday, hitting $211.48. 1,360,796 shares of the stock traded hands, compared to its average volume of 1,778,336. The firm's 50 day moving average is $233.47 and its two-hundred day moving average is $261.79. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. 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 stock has a market cap of $50.67 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the business posted $3.86 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current 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 issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio is 34.63%.

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.