Zurcher Kantonalbank Zurich Cantonalbank Sells 20,742 Shares of FedEx Co. (NYSE:FDX)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,691 shares of the shipping service provider's stock after selling 20,742 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in FedEx were worth $28,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Citizens Financial Group Inc. RI boosted its position in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider's stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC boosted its position in FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider's stock worth $279,000 after purchasing an additional 39 shares during the period. Harbour Investments Inc. boosted its position in FedEx by 1.5% during the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider's stock worth $728,000 after purchasing an additional 40 shares during the period. Cetera Trust Company N.A boosted its position in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock valued at $2,230,000 after acquiring an additional 40 shares during the period. Finally, Griffin Asset Management Inc. boosted its position in shares of 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 acquiring an additional 40 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 1.5 %

Shares of FDX opened at $242.92 on Wednesday. The firm has a market cap of $58.51 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.11 and a beta of 1.23. 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 Co. has a fifty-two week low of $241.78 and a fifty-two week high of $313.84. The firm has a 50 day moving average price of $265.10 and a 200-day moving average price of $275.35.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.27%. FedEx's dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction on 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 completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company's stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America raised their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, December 20th. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Raymond James lowered shares of FedEx from an "outperform" rating to a "market perform" rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Finally, Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $318.58.

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.

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