Wells Fargo & Company MN Reduces Position in FedEx Co. (NYSE:FDX)

Wells Fargo & Company MN trimmed its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 615,729 shares of the shipping service provider's stock after selling 14,153 shares during the period. Wells Fargo & Company MN owned 0.26% of FedEx worth $173,223,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FDX. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx during the fourth quarter valued at $28,000. City Holding Co. bought a new stake in FedEx in the 4th quarter valued at $28,000. Kentucky Trust Co purchased a new stake in FedEx in the 4th quarter worth $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter valued at about $29,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company's stock.

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FedEx Trading Up 0.5 %

FedEx stock traded up $1.06 during trading hours on Friday, hitting $207.46. The company had a trading volume of 2,196,102 shares, compared to its average volume of 1,775,964. The firm has a market cap of $49.71 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a 50-day moving average price of $244.07 and a two-hundred day moving average price of $265.74. 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 quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the firm 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 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FDX. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Stephens decreased their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Citigroup reduced their price target on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $300.63.

FedEx 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.